The Behavioral Economics of Artificial Intelligence: Lessons from Experiments with Computer Players

42 Pages Posted: 27 Nov 2019

See all articles by Christoph March

Christoph March

Government of the Federal Republic of Germany - Federal Ministry of Education and Research; University of Bamberg

Date Written: 2019

Abstract

Artificial intelligence (AI) is starting to pervade the economic and social life rendering strategic interactions with artificial agents more and more common. At the same time, experimental economic research has increasingly employed computer players to advance our understanding of strategic interaction in general. What can this strand of research teach us about an AI-shaped future? I review 90 experimental studies using computer players. I find that, in a nutshell, humans act more selfishly and more rational in the presence of computer players, and they are often able to exploit these players. Still, many open questions prevail.

Keywords: experiment, robots, computer players, survey

JEL Classification: C900, C920, O330

Suggested Citation

March, Christoph, The Behavioral Economics of Artificial Intelligence: Lessons from Experiments with Computer Players (2019). CESifo Working Paper No. 7926, Available at SSRN: https://ssrn.com/abstract=3485475 or http://dx.doi.org/10.2139/ssrn.3485475

Christoph March (Contact Author)

Government of the Federal Republic of Germany - Federal Ministry of Education and Research ( email )

Hannoversche Straße 28 - 30
Berlin, 10115
Germany

University of Bamberg ( email )

Kirschaeckerstrasse 39
Bamberg, 96045
Germany

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