The behavioral model and game theory

The rational choice theory is based on this idea that people rationally pursue goals for increasing their personal interests. Here, we present a new concept of rational choice as a hyper-rational choice in which the actor thinks about profit or loss of other actors in addition to his personal profit...

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Bibliographic Details
Published in:Humanities & social sciences communications Vol. 5; no. 1; p. 57
Main Authors: Askari, Gholamreza, Gordji, Madjid Eshaghi, Park, Choonkil
Format: Journal Article
Language:English
Published: London Springer Nature B.V 28.05.2019
Subjects:
Behavior
Beliefs
Decision makers
Decision making
Environmental conditions
Game theory
Games
Human subjects
Preferences
Profit maximization
Rational choice
Rationality
Social sciences
Valuation
ISSN:2055-1045, 2055-1045, 2662-9992
Online Access:Get full text
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Summary:The rational choice theory is based on this idea that people rationally pursue goals for increasing their personal interests. Here, we present a new concept of rational choice as a hyper-rational choice in which the actor thinks about profit or loss of other actors in addition to his personal profit or loss and then will choose an action that is desirable to him. We implement the hyper-rational choice to generalize and expand the game theory. Results of this study will help to model the behavior of people considering environmental conditions, the type of behavioral interaction, valuation system of itself and others, and system of beliefs and internal values of societies. Hyper-rationality helps us understand how human decision-makers behave in interactive decisions.
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ISSN:2055-1045
2055-1045
2662-9992
DOI:10.1057/s41599-019-0265-2