A Theory of Games and Emotions
DECISION SCIENCES |

A Theory of Games and Emotions

THE ERC PROJECT OF PIERPAOLO BATTIGALLI AIMS TO EXPLAIN HOW WE REASON IN INTERACTIONS IN WHICH WE HAVE TO PREDICT THE REACTION OF OTHERS TO OUR ACTIONS

Choices are affected by emotions. The guilt aversion, for instance, may generate a compensatory behavior, anger generally leads to aggressive actions. But we can rationally think about our future emotions and they end up affecting our choices. If we take into account other agents’ beliefs and emotions, the framework gets more complex and interesting.
 
The ERC-funded project Reasoning about Strategic Interactions and Emotions (STRATEMOTIONS), hosted by IGIER - Innocenzo Gasparini Institute for Economic Research, by Pierpaolo Battigalli, Professor at the Department of Decision Sciences, proposes to develop a general theory, expressed in a mathematical language, to analyze the dynamics of strategic interaction between intelligent agents who may be affected by how other agents think. A specific feature of the project is the integration of strategic thinking with psychological features, in order to take into account the role of emotions in shaping the agents’ behavior.
 
“Here a few insights. The aversion to let others down may influence the decision to tell the truth. We are going to test the anticipation of an angry reaction when offering good or bad deals. We introduced the attitude toward uncertainty in the game, discovering that it makes it harder to predict the outcome of a strategic interaction and to disrupt the equilibrium with a small shock”. Emotions are compatible with strategic thinking.

Read here the other articles on the ERC research projects:
The Dream Team of Research made in..ERC
University at the Time of Star Wars
The Culture That Influences Demography
For a History of Inequality in Europe
Fostering Solidarity in Times of Migrations
Why with Broadband We will have More Children
How to Communicate Climate Science
At the Birth of Maritime Insurance
Even Distorted Choices can be Rational
The Psychology of Economic Behavior
Great Expectations for Great Objectives
What we are Certain about Uncertainty
Putting a Halt to the Spread of Infections
Wellbeing and Fertility, a Two-Way Relationship
The Role of Financial Imperfections
The World Through the Lens of Power
The Selection of the Political Class
How to Evaluate Innovative Ideas
A Help for Those who make Predictions
When a Government is Guided by Values
 

 

by Claudio Todesco

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