Template-Type:ReDIF-Paper 1.0  
Title: Features of Experimentally Observed Bounded Rationality
Author-Name: Selten, Reinhard
Classification-JEL: C70, C90, D63, D83
Keywords: 	Bounded rationality, experiments, strategic interaction
Abstract: On the basis of experimental evidence reported in the literature the paper draws conclusions about
	the bounded rationality exhibited by human economic behaviour. Among the topics discussed are presentation
	effects caused by superficial analysis, strategic reasoning and strategy construction based on reciprocity and
	fairness, avoidance of circular concepts in step by step strategic reasoning, ex-post rationality and learning
	direction theory, presence of both adaptive and analytic approaches to repeated decision tasks, and the absence
	of quantitative expectations and optimization in typical repeated game strategies
Length: pages
Creation-Date: 
Revision-Date: 1997-11
Handle: RePEc:bon:bonsfb:421