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Published online by Cambridge University Press: 02 October 2003
Psychological game theory, as defined by Colman, is meant to offer a series of solution concepts that should reduce the indeterminacy of orthodox game theory when applied to a series of situations. My main criticism is that, actually, they introduce a second-order indeterminacy problem rather than offering a viable solution. The reason is that the proposed solution concepts are under-specified in their definition and in their scope.
1. I owe this example to Tim Rakow.