Sammendrag
This thesis discusses some of the anomalies observed in economics in general. Anomalies
are classified as behavior that is contradictory to utility theory and/or Nash equilibrium
behavior. The thesis reviews an experiment and classifies some of the anomalies detected
through the experiment. The experiment is based on a two stage R&D game, allowing firms to
cooperate in R&D. Risk is introduced for the firms through random variables. This thesis
looks at models that can be used to explain anomalies. Most successful were the models
allowing loss aversion and risk aversion when subjects cooperate in R&D. On the other hand,
the attempts were less successful in most cases where subjects did not cooperate in R&D.