Answer to Question #62713 in Other Economics for Jessie

Question #62713
What are the main differences in the methods of game theory and experimental economics? Which method is better suited to analyze strategic behavior?
1
Expert's answer
2016-10-20T12:11:11-0400
Experimental economics is the application of experimental methods to study economic questions.
Game theory is the study of mathematical models of conflict and cooperation between intelligent rational decision-makers.
Game theory is better for the analyzing strategic behaviour, because it can provide good enough model to explain such behaviour as a game between several players.

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