Jump to ContentJump to Main Navigation
Comparative Decision Making$
Users without a subscription are not able to see the full content.

Thomas R. Zentall and Philip H. Crowley

Print publication date: 2013

Print ISBN-13: 9780199856800

Published to Oxford Scholarship Online: May 2013

DOI: 10.1093/acprof:oso/9780199856800.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 22 September 2020

The Social Nature of Human Decision Making

The Social Nature of Human Decision Making

(p.111) Chapter 5 The Social Nature of Human Decision Making
Comparative Decision Making

James D. Morrow

Oxford University Press

This chapter is built around a general and particularly powerful framework for understanding social interactions and associated decisions: game theory. The main premise of game theory is that a player’s best decision hinges on what other players are likely to decide. But in the frequent situations where social game players benefit from converging on identical or complementary decisions, common conjectures about decisions can play a key role. Social norms such as fairness standards are an important category of common conjectures that are socially enforced. But in other cases convergence on compatible decisions may depend on trial and error or on pre-game communication, at least when communication is likely to be reliable. The shortcomings and biases of human reasoning addressed in later chapters diverge from the ideal of Homo economicus and may thus add to the challenge of attaining consistent convergence on common conjectures in social decision making.

Keywords:   social interactions, game theory, convergence, fairness standards, pre-game communication, human reasoning, common conjectures

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .