We explore behavioural game theory, examining how people's actual decisions in strategic situations differ from predictions made by traditional game theory models. Several chapters analyse experimental data from various games, such as the ultimatum game and prisoner's dilemma, to illustrate deviations from rational self-interest. Different models are proposed to explain observed behaviours, including cognitive hierarchy models that account for varying levels of strategic thinking, quantal response equilibrium that incorporates stochastic elements, and social preference models that consider factors like fairness and reciprocity. Applications of game theory to various real-world contexts, such as construction project management and economic policy, are also discussed. Finally, the effectiveness and limitations of these models are critically evaluated.

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