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Intentions, Trust and Frames: A Note on Sociality and the Theory of Games

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  • Vittorio Pelligra

Abstract

Psychological Game Theory (PGT) expands classical game theory allowing for the formal analysis of belief-dependent sentiments and emotions such as resentment, pride, shame, gratefulness and the like. PGT incorporates these factors by relating agents' subjective expected utility to players' strategies, to their beliefs about others' strategies, and also to their beliefs about others' beliefs about their strategies, and so on. This paper argues that, thanks to the epistemic implications of this hierarchy of beliefs, PGT is well-endowed to address, and to some extent solve, three of the most challenging problems recently emerged in classical game theory related respectively to the role of players' intentionality, to the self-fulfilling nature of trust and finally to the so-called social framing effects.

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  • Vittorio Pelligra, 2011. "Intentions, Trust and Frames: A Note on Sociality and the Theory of Games," Review of Social Economy, Taylor & Francis Journals, vol. 69(2), pages 163-188.
    • Handle: RePEc:taf:rsocec:v:69:y:2011:i:2:p:163-188
    DOI: 10.1080/00346760903568451
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    References listed on IDEAS

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    Cited by:

    1. Elsner, Wolfram & Schwardt, Henning, 2012. "Trust and Arena Size. Expectations, Trust, and Institutions Co-Evolving, and Their Critical Population and Group Sizes," MPRA Paper 40393, University Library of Munich, Germany.
    2. Pelligra, Vittorio, 2010. "Trust responsiveness. On the dynamics of fiduciary interactions," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 39(6), pages 653-660, December.
    3. Gräbner, Claudius, 2015. "Formal Approaches to Socio Economic Policy Analysis - Past and Perspectives," MPRA Paper 61348, University Library of Munich, Germany.
    4. Gräbner, Claudius, 2016. "Agent-based computational models– a formal heuristic for institutionalist pattern modelling?," Journal of Institutional Economics, Cambridge University Press, vol. 12(1), pages 241-261, March.
    5. De Rosa, Dalila & Semplici, Lorenzo, 2016. "Prospettive di domanda ed offerta di benessere multidimensionale," AICCON Working Papers 147-2016, Associazione Italiana per la Cultura della Cooperazione e del Non Profit.

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    More about this item

    Keywords

    psychological games; intentions; trust; decision frames;
    All these keywords.

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • C79 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Other
    • C9 - Mathematical and Quantitative Methods - - Design of Experiments

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