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    QRE is used by experimental economists to estimate the di... — Carmelics
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    Home/Consequentialism
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    Supports→Game theory can be applied to situations involving human players that are novel for them, despite the unresolved relationship between learning theory and game theory.

    QRE is used by experimental economists to estimate the distribution of utility functions in populations of real people placed in situations modeled as games.

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    ConsequentialismTruth & Knowledge

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    Game theory can be applied to situations involving human players that are novel ...McKelvey and Palfrey developed quantal response equilibrium (QRE) as a method fo...QRE is practically serviceable given modern econometrics packages such as Stata ...

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    A researcher applying game theory to model a social situation should u...82%The empirical usefulness of game theory would be called into question ...82%All experimental data are consistent with the view that people are app...81%Mixture models allow deployment of a wide range of decision functions ...80%

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    Given the unresolved complex relationship between learning theory and game theory, the reasoning above might seem to imply that game theory can never be applied to situations involving human players that are novel for them. Fortunately, however, we face no such impasse. In a pair of influential papers in the mid-to-late 1990s, McKelvey and Palfrey (1995, 1998) developed the solution concept of quantal response equilibrium (QRE). QRE is not a refinement of NE, in the sense of being a philosophi

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