In the world of strategy and decision-making, game theory plays a crucial role in analyzing the behavior of individuals and organizations. One aspect of game theory that has gained significant attention in recent years is behavior strategy. Behavior strategy refers to the study of how individuals and organizations make decisions and interact with one another in situations of conflict or cooperation. It is a crucial component of game theory as it helps us understand the complexities of human behavior and how it impacts the outcomes of various games.
This guide will provide a comprehensive overview of behavior strategy in game theory, including its definition, key concepts, and applications. We will explore the various approaches to behavior strategy, including classical game theory, evolutionary game theory, and experimental game theory. Additionally, we will examine the role of behavior strategy in real-world scenarios, such as business, politics, and social interactions. By the end of this guide, you will have a deep understanding of behavior strategy in game theory and how it can be used to make informed decisions in a variety of contexts.
Introduction to Game Theory
Overview of Game Theory
Game theory is a branch of mathematics that deals with the study of strategic decision-making among individuals or entities. It provides a framework for analyzing situations in which players interact with one another and make decisions that can impact the outcomes for all parties involved. The main goal of game theory is to understand how individuals or entities make decisions in situations where the outcome depends on the actions of others.
Game theory is based on the idea that individuals or entities have preferences and act rationally to maximize their own payoffs. The payoffs in game theory can be defined as rewards, benefits, or utility that a player receives from a particular outcome. In game theory, players are assumed to have perfect information about the game and the other players’ strategies.
Game theory can be applied to a wide range of situations, including economic models, political science, biology, and psychology. Some of the most famous game theoretic models include the Prisoner’s Dilemma, the Battle of the Sexes, and the Hawk-Dove Game. These models provide insights into how players can make strategic decisions to maximize their payoffs and how cooperation and conflict can arise in different situations.
In addition to the traditional game theoretic models, there are also extensions of game theory, such as evolutionary game theory, which considers how strategies can evolve over time, and social choice theory, which deals with how groups of individuals can make collective decisions.
Overall, game theory provides a powerful tool for understanding how individuals or entities make strategic decisions in various situations. By analyzing the interactions and decision-making processes of players, game theory can provide insights into how cooperation and conflict can arise and how players can maximize their payoffs.
The Importance of Behavior Strategy in Game Theory
Behavior strategy in game theory refers to the way in which players’ actions and decisions are influenced by their perceptions of other players’ actions and intentions. In other words, it is the study of how individuals’ choices are shaped by their beliefs about the actions and intentions of others. Behavior strategy is an essential component of game theory because it allows researchers to examine how social interactions and communication between players can impact the outcome of a game.
There are several key reasons why behavior strategy is so important in game theory:
- It allows researchers to study how individuals’ choices are influenced by their beliefs about the actions and intentions of others.
- It helps to explain how social interactions and communication between players can impact the outcome of a game.
- It provides insights into how players can use their understanding of other players’ behavior to make strategic decisions.
- It can be used to develop predictions about how players will behave in different situations, which can be useful in a variety of applications, including economics, politics, and psychology.
Overall, the importance of behavior strategy in game theory lies in its ability to shed light on the complex interactions between individuals and how these interactions can influence decision-making in a variety of contexts.
Game Theory Basics
The Prisoner’s Dilemma
The Prisoner’s Dilemma is a classic game in game theory that is used to illustrate the concept of mutual cooperation and the difficulties of reaching a cooperative solution in a situation where individual actions can have a negative impact on the other player. The game is based on the following scenario:
Two prisoners are arrested and brought to separate interrogation rooms. Each prisoner is asked to confess to a crime they have committed. If one prisoner confesses, the other prisoner will be charged with a lesser crime. If both prisoners confess, they will both be charged with a more serious crime. If neither prisoner confesses, they will both be released.
The prisoners are faced with a dilemma because if one prisoner confesses, the other prisoner will be charged with a lesser crime, which means that the prisoner who did not confess will receive a higher charge. However, if both prisoners confess, they will both be charged with a more serious crime, which means that both prisoners will receive a higher charge.
The game illustrates the difficulty of reaching a cooperative solution when the individual actions of each player can have a negative impact on the other player. In the case of the Prisoner’s Dilemma, the optimal solution is for both prisoners to cooperate and not confess, but this requires trust and cooperation between the prisoners, which is difficult to achieve.
The Prisoner’s Dilemma has been used to illustrate a variety of real-world situations, including international relations, business, and economics. It is also used to study the effects of different strategies, such as cooperation, defection, and tit-for-tat, on the outcome of the game.
Overall, the Prisoner’s Dilemma is a fundamental game in game theory that highlights the difficulties of reaching a cooperative solution in situations where individual actions can have a negative impact on the other player. It is a powerful tool for understanding the behavior and strategies of players in different situations.
Nash Equilibrium
Nash Equilibrium, named after the mathematician John Nash, is a key concept in game theory that describes a stable state where no player can improve their outcome by unilaterally changing their strategy, given that all other players maintain their strategies. In other words, it represents a state of mutual non-cooperation, where all players have chosen the best response to the strategies of the other players, and no player can improve their outcome by changing their strategy alone.
The Nash Equilibrium is an important solution concept in game theory because it provides a way to predict the behavior of rational decision-makers in strategic situations. It is used to analyze various games, such as the famous Prisoner’s Dilemma, to determine the optimal strategies for each player in order to achieve the best possible outcome.
In order to reach a Nash Equilibrium, players must engage in strategic reasoning and consider the possible responses of the other players. This requires an understanding of the game being played, including the payoffs associated with each possible outcome and the strategies of the other players.
The Nash Equilibrium can be identified through various methods, such as backward induction, which involves starting with the last player and working backwards to identify the optimal strategies for each player, or the Best Response Method, which involves identifying the best response of each player to the strategies of the other players.
Once a Nash Equilibrium has been identified, it can be used to predict the behavior of rational decision-makers in strategic situations. However, it is important to note that the Nash Equilibrium assumes that all players are rational and that they have perfect information about the game being played. In reality, players may not always act rationally or have complete information, which can lead to different outcomes.
In conclusion, the Nash Equilibrium is a fundamental concept in game theory that describes a stable state of mutual non-cooperation where all players have chosen the best response to the strategies of the other players. It is a useful tool for predicting the behavior of rational decision-makers in strategic situations, but it is important to keep in mind its limitations and assumptions.
Pareto Efficiency
Pareto Efficiency is a concept in game theory that refers to a state of equilibrium where no individual player can be made better off without making another player worse off. In other words, it is a situation where there is no unanimity among players about the distribution of goods or resources, but no player can improve their own position without worsening someone else’s.
The concept of Pareto Efficiency is named after Vilfredo Pareto, an Italian economist who first observed that a small proportion of the population owned a large proportion of the wealth. In game theory, Pareto Efficiency is often used to analyze situations where players have different preferences and utility functions, and the goal is to find a distribution of goods that is fair and efficient.
Pareto Efficiency is an important concept in game theory because it provides a way to analyze and evaluate different outcomes in a game. It is used to determine whether an outcome is fair or efficient, and whether it is possible to make any player better off without making someone else worse off.
One way to achieve Pareto Efficiency is through the use of bargaining and negotiation. Players can come to an agreement about the distribution of goods or resources that satisfies everyone’s preferences, even if they have different utility functions. Another way to achieve Pareto Efficiency is through the use of a third-party mediator, such as a judge or arbitrator, who can help resolve disputes and allocate resources fairly.
In summary, Pareto Efficiency is a concept in game theory that refers to a state of equilibrium where no player can be made better off without making another player worse off. It is an important concept for analyzing and evaluating different outcomes in a game, and can be achieved through bargaining, negotiation, or the use of a third-party mediator.
Behavior Strategy in Game Theory
Definition of Behavior Strategy
Behavior strategy in game theory refers to the decision-making process of a player in a game, which is influenced by their cognitive and emotional factors. It is a key aspect of game theory that helps explain how individuals make decisions in strategic situations.
There are different types of behavior strategies, including:
- Rational behavior strategy: This type of strategy is based on a player’s assessment of the costs and benefits of each possible action.
- Impulsive behavior strategy: This type of strategy is based on a player’s emotional reactions and instincts, rather than a careful consideration of the costs and benefits of each possible action.
- Cognitive behavior strategy: This type of strategy is based on a player’s mental processes and their ability to analyze complex situations.
In addition to these types of behavior strategies, there are also various factors that can influence a player’s decision-making process, such as their personality traits, past experiences, and social norms.
Overall, understanding behavior strategy in game theory is essential for predicting and analyzing the actions of players in strategic situations. By examining the cognitive and emotional factors that influence decision-making, researchers can gain insights into how individuals behave in different game scenarios and develop more effective strategies for winning.
Types of Behavior Strategies
In game theory, behavior strategies refer to the actions or moves that players make in response to the actions of their opponents. These strategies can be categorized into several types, each with its own unique characteristics and implications. In this section, we will explore the different types of behavior strategies in game theory.
Cooperation
Cooperation is a behavior strategy in which players work together to achieve a common goal or outcome. This strategy is often used in games that involve cooperation or collaboration, such as the Prisoner’s Dilemma. In these games, players must decide whether to cooperate or defect, and the outcome depends on the decisions made by both players. Cooperation can lead to positive outcomes, such as increased trust and social cohesion, but it can also lead to negative outcomes, such as exploitation and betrayal.
Competition
Competition is a behavior strategy in which players strive to outdo or undermine their opponents. This strategy is often used in games that involve competition or rivalry, such as the Battle of the Sexes. In these games, players must decide whether to cooperate or compete, and the outcome depends on the decisions made by both players. Competition can lead to positive outcomes, such as increased motivation and innovation, but it can also lead to negative outcomes, such as conflict and aggression.
Coordination
Coordination is a behavior strategy in which players work together to achieve a common goal or outcome while taking into account the actions of their opponents. This strategy is often used in games that involve coordination or cooperation, such as the Stag Hunt. In these games, players must decide whether to coordinate their actions or pursue their own interests, and the outcome depends on the decisions made by both players. Coordination can lead to positive outcomes, such as increased efficiency and productivity, but it can also lead to negative outcomes, such as confusion and inefficiency.
Deception
Deception is a behavior strategy in which players mislead or deceive their opponents in order to achieve a desired outcome. This strategy is often used in games that involve deception or manipulation, such as poker or chess. In these games, players must decide whether to deceive or be deceived, and the outcome depends on the decisions made by both players. Deception can lead to positive outcomes, such as increased control and influence, but it can also lead to negative outcomes, such as distrust and resentment.
In summary, the different types of behavior strategies in game theory include cooperation, competition, coordination, and deception. Each strategy has its own unique characteristics and implications, and players must carefully consider their options before making a move. By understanding these different strategies, players can make more informed decisions and improve their chances of success in a variety of games and situations.
Best Response and Unpredictability
In game theory, a best response is the strategy that yields the best outcome for a player given the strategies chosen by all other players. It is the optimal response to a given situation, taking into account the actions and reactions of all players involved. The concept of best response is central to understanding behavior strategy in game theory, as it provides a framework for analyzing and predicting the actions of players in various games.
However, the predictability of a player’s best response can be affected by several factors, including uncertainty and incomplete information. Uncertainty arises when players are unsure about the actions of other players, and this can lead to unpredictable behavior. Incomplete information can also create uncertainty, as players may not have access to all the information they need to make an informed decision.
Furthermore, the concept of best response is not always straightforward, as it can depend on the specific game being played and the preferences of the players involved. In some games, such as cooperative games, the concept of best response may not apply, as players may have to work together to achieve a mutually beneficial outcome.
In summary, the concept of best response is a crucial aspect of behavior strategy in game theory, but it can be affected by uncertainty and incomplete information. Understanding how to navigate these challenges is essential for developing effective strategies in various games.
Limits of Rationality
Game theory, as a framework for understanding strategic interactions, assumes that individuals act rationally in their own self-interest. However, the limits of rationality arise when individuals face cognitive or emotional barriers that prevent them from making optimal decisions.
One limitation of rationality is that individuals may not have complete information about the situation they are in. For example, in a game of poker, players may not know the value of the cards held by their opponents. This lack of information can lead to suboptimal decisions, as players may not be able to accurately assess the best course of action.
Another limitation of rationality is that individuals may be subject to emotional biases that can affect their decision-making. For example, individuals may become overly confident or overly cautious, leading them to make decisions that are not in their best interest. Additionally, individuals may be influenced by social norms or group dynamics, leading them to make decisions that are not based solely on their own self-interest.
Cognitive limitations can also play a role in limiting rationality. Individuals may not have the capacity to process all available information, leading them to rely on heuristics or rules of thumb to make decisions. Additionally, individuals may be subject to framing effects, where the way a problem is presented can influence the decision-making process.
Finally, time constraints can also limit rationality. In situations where decisions need to be made quickly, individuals may not have the time to fully consider all available information, leading them to make suboptimal decisions.
Overall, the limits of rationality highlight the importance of understanding the cognitive, emotional, and social factors that can influence decision-making in strategic interactions. By recognizing these limitations, individuals can develop strategies to overcome them and make more informed decisions.
Behavior Strategy vs. Rational Choice
In game theory, behavior strategy refers to the way in which players make decisions based on their own subjective perceptions and beliefs about the game, rather than simply following the optimal strategy that would result in the best outcome for them. On the other hand, rational choice theory assumes that players will always act in their own self-interest and choose the option that maximizes their payoff.
Behavior strategy takes into account the fact that players may be influenced by a variety of factors, such as their emotions, social norms, and past experiences. For example, a player may choose to cooperate with other players even if it is not the optimal strategy, because they value the social benefits of cooperation. In contrast, rational choice theory assumes that players are purely rational and will always choose the option that maximizes their payoff, regardless of any other factors.
One of the key differences between behavior strategy and rational choice theory is that behavior strategy recognizes that players may not have complete information about the game or their opponents. In real-world situations, players often have to make decisions based on incomplete or uncertain information, and their decisions may be influenced by their beliefs about the likelihood of different outcomes. Rational choice theory, on the other hand, assumes that players have complete information about the game and can make optimal decisions based on that information.
Overall, behavior strategy provides a more nuanced and realistic understanding of how players make decisions in game theory situations. By taking into account the influence of emotions, social norms, and other factors, behavior strategy can help us better understand the complex dynamics of real-world situations and develop more effective strategies for navigating them.
The Folk Theorems
The Folk Theorems, also known as the Folk Theorem of International Relations, are a set of principles that describe how states in an anarchic international system can achieve stable cooperation through mutual deterrence. The Folk Theorems are named after political scientist Robert Jervis, who first articulated them in his 1970 book “International Politics.”
The Folk Theorems consist of two main principles: the security dilemma and the balance of power. The security dilemma refers to the idea that states, in an effort to increase their own security, may take actions that ultimately undermine the security of others. For example, a state may increase its military capabilities in order to deter potential aggressors, but this increase in military capabilities may be perceived as a threat by other states, leading them to increase their own military capabilities, and so on.
The balance of power, on the other hand, refers to the idea that states can achieve stability through a balance of military capabilities. In other words, if no single state has a clear military advantage over the others, then the states will be less likely to engage in aggression, as they will be deterred by the potential response from other states. This principle is often summarized by the phrase “the best defense is a good offense,” meaning that a state with a strong military will be less likely to be attacked, as other states will be deterred by the potential cost of attacking.
The Folk Theorems have important implications for international relations and security policy. They suggest that states in an anarchic system must rely on self-help measures, such as military build-ups and alliances, in order to ensure their own security. They also suggest that states must be aware of the potential negative consequences of their actions, and that they must be cautious in their use of military force, as it can lead to a cycle of escalation and counter-escalation.
Overall, the Folk Theorems provide a useful framework for understanding the complex dynamics of international relations and the challenges of maintaining stability in an anarchic system. They highlight the importance of mutual deterrence and the balance of power, and the need for states to be mindful of the potential consequences of their actions.
Applications of Behavior Strategy in Game Theory
Behavior strategy in game theory refers to the study of how players’ actions are influenced by their beliefs about other players’ behavior. It involves examining how individuals make decisions in strategic situations, where the outcome of their actions depends on the actions of others.
One of the primary applications of behavior strategy in game theory is in the study of auctions. Auctions are a classic example of a strategic situation, where players’ actions depend on the actions of others. Behavior strategy in game theory can be used to understand how players make decisions in auctions, and how their decisions affect the final outcome.
Another application of behavior strategy in game theory is in the study of repeated games. Repeated games are games that are played multiple times, and the outcome of each player’s action depends not only on the current round but also on the history of past rounds. Behavior strategy in game theory can be used to understand how players make decisions in repeated games, and how their decisions affect the long-term outcome.
In addition to auctions and repeated games, behavior strategy in game theory has also been applied to the study of other strategic situations, such as bargaining, negotiations, and voting. In each of these cases, behavior strategy in game theory can be used to understand how players make decisions, and how their decisions affect the outcome of the game.
Overall, the application of behavior strategy in game theory has been instrumental in helping us understand how individuals make decisions in strategic situations. By examining how players’ actions are influenced by their beliefs about other players’ behavior, we can gain valuable insights into the complex dynamics of strategic situations, and use this knowledge to make better decisions in a wide range of contexts.
Real-World Examples
1. Auctions
In auctions, understanding behavior strategy is crucial as it helps bidders determine the optimal bidding
Implications for Decision Making
In game theory, behavior strategy refers to the actions and decisions made by players in response to their environment and the strategies of other players. The implications of behavior strategy for decision making are significant and can greatly impact the outcome of a game.
Learning and Adaptation
One of the key implications of behavior strategy is the ability of players to learn and adapt to their environment. By observing the actions of other players and the outcomes of those actions, players can adjust their own strategies to maximize their chances of success. This learning and adaptation process can lead to the emergence of complex strategies and behaviors that are not easily predictable.
Evolutionary Dynamics
Another important implication of behavior strategy is the evolutionary dynamics that can arise in a game. As players learn and adapt, their strategies can evolve over time, leading to the emergence of new strategies and behaviors. This evolutionary process can result in the emergence of dominant strategies that are highly effective in a given game.
Communication and Cooperation
Behavior strategy can also have implications for communication and cooperation among players. By using certain strategies or behaviors, players can signal their intentions to other players and facilitate cooperation. In addition, behavior strategy can be used to enforce agreements and punish players who violate the rules of the game.
Social Preferences
Finally, behavior strategy can also have implications for social preferences and norms. By following certain strategies or behaviors, players can signal their adherence to social norms and preferences. This can help to build trust and cooperation among players, and can also help to enforce social norms within a game.
Overall, the implications of behavior strategy for decision making are significant and can greatly impact the outcome of a game. By understanding these implications, players can develop more effective strategies and behaviors that can help them to succeed in a wide range of games and environments.
Recap of Key Points
In game theory, behavior strategy refers to the study of how players make decisions in different situations, and how those decisions affect the outcome of the game. This approach takes into account not only the players’ rational choices, but also their emotions, instincts, and social norms. By examining the various factors that influence behavior strategy, game theorists can gain a deeper understanding of how games are played and how outcomes can be predicted.
One of the key concepts in behavior strategy is the idea of the “equilibrium.” This refers to a point at which no player has an incentive to change their strategy, as each player’s decision is in line with the decisions of the other players. In other words, each player’s strategy is “rational” given the strategies of the other players. There are several different types of equilibria, including the pure strategy equilibrium, the mixed strategy equilibrium, and the Bayesian equilibrium.
Another important concept in behavior strategy is the idea of “reputation.” This refers to a player’s past performance, which can influence their current and future behavior. A player with a good reputation is more likely to be trusted and followed by other players, while a player with a poor reputation may be penalized or ostracized. Reputation can be based on a variety of factors, including past successes or failures, consistency, and reliability.
In addition to these concepts, behavior strategy also takes into account the role of “signaling.” This refers to the way in which players communicate their intentions or preferences to each other through their actions or decisions. Signaling can be verbal or nonverbal, and can take many different forms, such as body language, facial expressions, or tone of voice. By carefully analyzing the signals that players send, game theorists can gain insights into their behavior and predict their future actions.
Overall, behavior strategy is a critical aspect of game theory, as it helps to explain how players make decisions and how those decisions can affect the outcome of a game. By studying behavior strategy, game theorists can gain a deeper understanding of human behavior and use that knowledge to improve their own decision-making processes.
Future Directions for Research
- Exploring the role of emotions in decision-making
- Investigating how emotions influence player behavior and strategy choices
- Developing models that incorporate emotions into game theory analysis
- Applying game theory to real-world problems
- Analyzing conflicts and cooperation in international relations
- Developing strategies for sustainable resource management
- Studying dynamic and evolving games
- Investigating how players’ strategies change over time
- Developing models that account for learning and adaptation
- Investigating the impact of technology on game theory
- Examining how new technologies affect player behavior and strategy choices
- Developing models that incorporate technological factors into game theory analysis
- Applying game theory to social networks
- Analyzing how network structure affects player behavior and strategy choices
- Developing models that account for social influence and network effects
- Investigating the ethical implications of game theory
- Examining the potential for game theory to be used for manipulation or exploitation
- Developing models that incorporate ethical considerations into game theory analysis
- Studying the relationship between game theory and other fields
- Investigating how game theory intersects with fields such as economics, psychology, and computer science
- Developing interdisciplinary models that integrate insights from multiple fields.
Final Thoughts
In conclusion, understanding behavior strategy in game theory is essential for making informed decisions in various social and economic contexts. It allows individuals and organizations to predict and influence the actions of others, ultimately leading to a more favorable outcome. By examining the different types of behavior strategies, their strengths and weaknesses, and their applications in different scenarios, we can gain a deeper understanding of how game theory can be used to optimize decision-making processes.
It is important to note that behavior strategy in game theory is not a one-size-fits-all solution. The effectiveness of different strategies depends on the specific context and the characteristics of the players involved. Therefore, it is crucial to carefully consider the nature of the game and the goals of the players before selecting a behavior strategy.
In addition, it is important to remember that game theory is not a perfect science. There are limitations to its assumptions and its ability to predict real-world outcomes. Therefore, it is important to approach game theory with a critical eye and consider other factors that may influence decision-making processes.
Overall, the study of behavior strategy in game theory is a valuable tool for understanding the complexities of decision-making in various social and economic contexts. By gaining a deeper understanding of game theory and its applications, we can make more informed decisions and achieve better outcomes.
FAQs
1. What is a behavior strategy in game theory?
A behavior strategy in game theory is a strategy that focuses on the actions and behaviors of players rather than their choices. It considers how players make decisions based on the actions of others and how these decisions can affect the outcome of the game. In contrast to traditional game theory, which focuses on the optimal decision-making process of individual players, behavioral game theory takes into account the social and psychological factors that influence the way players behave in different situations.
2. Why is behavior strategy important in game theory?
Behavior strategy is important in game theory because it helps to explain why players often make suboptimal decisions that seem irrational or illogical. By studying the behavior of players, researchers can identify patterns of decision-making that are influenced by social and psychological factors, such as emotions, biases, and group dynamics. This knowledge can be used to develop more effective strategies for players in various games, including economic and political systems.
3. What are some examples of behavior strategies in game theory?
There are many examples of behavior strategies in game theory, including the famous “tragedy of the commons” game, which is used to study the problem of shared resources. In this game, players must decide how much to use a shared resource, such as a fishing ground or a grazing pasture. If all players use too much of the resource, it can become depleted, which is known as the tragedy of the commons. To avoid this outcome, players may use behavior strategies such as cooperation, trust-building, and communication to reach a mutually beneficial agreement.
Another example of a behavior strategy is the use of punishment in the ultimatum game, which is a classic game used to study economic decision-making. In this game, one player is given a sum of money and must decide how much to share with another player. If the second player feels that they have not received a fair share, they can refuse to accept the offer and both players will receive nothing. To prevent this outcome, the first player may use a behavior strategy such as punishment, by offering a smaller share to the second player, to encourage them to accept the offer.
4. How is behavior strategy different from traditional game theory?
Behavior strategy is different from traditional game theory in that it focuses on the actions and behaviors of players, rather than their choices. Traditional game theory assumes that players are rational and make optimal decisions based on their preferences and payoffs. In contrast, behavioral game theory recognizes that players are influenced by a range of social and psychological factors, such as emotions, biases, and group dynamics, which can affect their decision-making process.
Behavioral game theory also recognizes that players may not always act in their own best interest, due to factors such as social pressure, fear, or uncertainty. By studying the behavior of players, researchers can identify these factors and develop strategies to mitigate their effects. This can lead to more effective decision-making in a variety of settings, including economic and political systems.
5. How can I learn more about behavior strategy in game theory?
There are many resources available for learning about behavior strategy in game theory, including academic journals, textbooks, and online courses. Some notable academic journals that publish research on behavioral game theory include the Journal of Economic Behavior & Organization, the Journal of Behavioral and Experimental Economics, and the Journal of Economic Psychology.
There are also several textbooks that provide a comprehensive introduction to behavioral game theory, including “Behavioral Game Theory” by Colin Camerer and “The Economic Mind: A Survey of the New Economic Psychology” by Ernst Fehr and Klaus M. Schmidt.
For those who prefer online learning, there are several courses available on platforms such as Coursera and edX, including “Introduction to Behavioral Economics” and “Behavioral Game Theory.” These courses provide a mix of theoretical and practical content, and are designed for students with a range of backgrounds, from beginners to advanced