4 citations · 4 across the 4 of their papers we have counts for
3 papers · 1 filter
Bargaining via Weber's law
V. G. Bardakhchyan, A. E. Allahverdyan
We solve the two-player bargaining problem employing Weber's law in psychophysics, which is applied to the perception of utility changes. Using this law, the players define the joi…
Ultimatum game: regret or fairness?
Lida H. Aleksanyan, Armen E. Allahverdyan, Vardan G. Bardakhchyan
In the ultimatum game, the challenge is to explain why responders reject non-zero offers thereby defying classical rationality. Fairness and related notions have been the main expl…
Regret theory, Allais' Paradox, and Savage's omelet
Vardan G. Bardakhchyan, Armen E. Allahverdyan
We study a sufficiently general regret criterion for choosing between two probabilistic lotteries. For independent lotteries, the criterion is consistent with stochastic dominance…