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From old issues to new directions in experimental psychology and economics

  • Vernon L. Smith (a1)
  • Published online: 01 June 2001
Abstract

The rhetoric of hypothesis testing implies that game theory is not testable if a negative result is blamed on any auxiliary hypothesis such as “rewards are inadequate.” This is because either the theory is not falsifiable (since a larger payoff can be imagined, one can always conclude that payoffs were inadequate) or it has no predictive content (the appropriate payoff cannot be prespecified).

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Behavioral and Brain Sciences
  • ISSN: 0140-525X
  • EISSN: 1469-1825
  • URL: /core/journals/behavioral-and-brain-sciences
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