Construct · 1 fields · 1 citations

traveler's dilemma: a standalone construct

One name. One construct. A landmark on the map.

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Game theory

a claims game where the logic of undercutting predicts the lowest claim, yet people often claim high when penalties are small.

In game theory, traveler's dilemma refers to a claims game where the logic of undercutting predicts the lowest claim, yet people often claim high when penalties are small. This meaning comes from Capra (1999) in American Economic Review.[1]

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Nearby constructs

game2 fields · 3 citationsjingle · one word, two constructs

References

Capra, C. M., Goeree, J. K., Gomez, R., & Holt, C. A. (1999). Anomalous Behavior in a Traveler's Dilemma? American Economic Review, 89(3), 678-690. https://doi.org/10.1257/aer.89.3.678

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