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Simon's and Siegel's responses to the 'mixed strategy anomaly': a missed case in the sensitivity of economics to empirical evidence
Authors:Tammi  Timo
Institution:*University of Joensuu.
Abstract:In some of their papers published in the 1950s, Herbert Simonand Sidney Siegel responded to the so-called mixed strategyanomaly in ways which deserve more attention. They producednot only (i) immediate defences of the economic theory of theirown time, but also (ii) ideas and solutions that have laterturned out to be significant contributions to the developmentof the economic theory of choice and decision-making and theseparation of experimental economics from experimental psychology.These observations suggest that economics can be more responsiveto empirical anomalies than has been assumed. Furthermore, knowledgeof the desirable responsiveness to anomalies can provide meansof avoiding the non-desirable immunity to anomalies.
Keywords:Anomalies  Experimental economics  Rationality
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