Insights from experiments with duopoly games: rational incremental decision-making

M. Jin Lee, M. Jae Moon and Jungsook Kim

Public Management Review, 2017, vol. 19, issue 9, 1328-1351

Abstract: This study explores rational incremental decision-making, one of the most powerful principles in government decision-making. Although ‘muddling through’ is applicable in many decision-making situations, it has been argued that incremental decisions are rational in some conditions. This study replicates the game experiment using two-person games with the factorial design of uncertainty and risk in Hong Kong and Korea. Findings show that incremental decisions in prior rounds lead to rational results and thereby better rewards, and that uncertainty and risk slow down the process of reaching the Nash equilibrium. The conclusion discusses implications of rational incrementalism.

Date: 2017
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://hdl.handle.net/10.1080/14719037.2017.1282002 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:rpxmxx:v:19:y:2017:i:9:p:1328-1351

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/rpxm20

DOI: 10.1080/14719037.2017.1282002

Access Statistics for this article

Public Management Review is currently edited by Stephen P. Osborne

More articles in Public Management Review from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().