Advances in Understanding Strategic Behaviour

The first ultimatum game, conducted by Werner Guth in the late 1970s, marks a crucial point in the history of modern economics-suddenly game theory lost its innocence and there was a chasm-between the beauty and elegance of the theory on one hand and the dour facts of behaviour on the other. Since then, the economics literature has slowly started filling this gap. Evolutionary game theory, preference evolution, learning models, models of bounded rationality with and without optimization, and, of course, more and more systematic experimental evidence-all these approaches flourished, competing with each other as well as complementing each other. This volume collects sixteen articles written in honour of Werner Guth. In their variety they reflect the entire spectrum of approaches that are currently employed at the frontiers of (behavioral) game theory. Each is inspiring on its own and together they illustrate the excitement of the agenda of understanding strategic behaviour.