Survey of Behavioral Game Theory:the New Field of Experimental Economics

The study of normal form game as a whole system has made a lot of progresses. From static game to dynamic game, from game with incomplete information to game with complete information, from one-short game to repeated game, now researches are focused on static game with complete information, dynamic game with complete information, static game with incomplete information, and dynamic game with incomplete information. Though the developing process of the theory is simply the process of releasing rigid assumptions, there is an impassable assumption to limit the application of game theory. The assumption is that players are economically rational. Experimental economics as a new field of behavioral economics has made a lot of progress and been widely accepted. The theory of normal form game will face more and more challenges from experimental economics, because of its emphasizing rational players and strict logic reasoning.