Brañas-Garza, Pablo; Espinosa, Maréa Paz; Rey-Biel, Pedro - Barcelona Graduate School of Economics (Barcelona GSE) - 2008
This paper uses subjects self-reported justifications to explain discrepancies between observed heterogeneous behavior and the unique equilibrium prediction in a one-shot travelers dilemma experiment (TD). Principal components (PC) analysis suggests that iterative reasoning, aspiration levels,...