Behavioral Game Theory and Bounded Rationality

Identify key experimental results that show systematic deviations from classical game theory predictions.

Analyze the Ultimatum Game to explain how fairness concerns and social preferences affect outcomes.

Apply level-k thinking models to predict behavior in dominance-solvable games like the 'beauty contest' game.

Explain how cognitive biases (e.g., framing effects, anchoring) can influence strategic choices.