From old issues to new directions in experimental psychology and economics

Behavioral and Brain Sciences 24 (3):428-429 (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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