People's behavior can be modeled compatibly with Revealed Preference Theory, which is the minimal sense of rational economic agency.

We can here give only a broad overview of an enormous and complicated literature. Readers are referred to critical surveys in Kagel and Roth (1995), Camerer (2003), Samuelson (2005), and Guala (2005). A useful high-level principle for sorting the literature indexes it to the different auxiliary assumptions with which game-theoretic axioms are applied. It is often said in popular presentations (e.g., Ormerod 1994) that the experimental data generally refute the hypothesis that people are