Similar Search Results

Are People in Groups More Farsighted than Individuals?

Bone, John; Hey, John; Suckling, John - Department of Economics and Related Studies, University …

A dynamic decision making experiment recently conducted on individuals suggested that people may look ahead but seem … repeated the experiment with pairs of individuals. The experiment consisted of two decision nodes (interleaved with two chance … the structure of the experiment, it was simple for the first player to predict the decisions of the second player …

Persistent link: https://www.econbiz.de/10005328532

A Simple Risk-Sharing Experiment

Bone, John; Hey, John; Suckling, John - Department of Economics and Related Studies, University …

This paper reports on an experiment designed to test whether pairs of individuals are able to exploit efficiency gains … in the sharing of a risky financial prospect. Observations from a previous experiment had suggested a general rejection … of efficiency in favour of ex post equality. The present experiment explores some possible explanations for this. The …

Persistent link: https://www.econbiz.de/10005328574

Ultimatum Bargaining Behavior in Israel, Japan, Slovenia and the United States: A Social Utility Analysis

Costa-Gomes, Miguel; Zauner, Klaus G. - Department of Economics and Related Studies, University …

We explain the main features of the results of the four-country ultimatum bargaining experiments of Roth, Prasnikar, Okuno-Fujiwara, and Zamir (1991) by a social utility model. The specification of social utility of a player has two parts: a linear combination of the monetary payoffs of the...

Persistent link: https://www.econbiz.de/10008836168

Learning, Non-equilibrium Beliefs, and Non-pecuniary Payoffs in an Experimental Game

Costa-Gomes, Miguel; Zauner, Klaus G. - Department of Economics and Related Studies, University …

We present and estimate a parametric learning model of players' dynamic and possible out-of-equilibrium beliefs about other players'social preferences using the data from the four-country ultimatum game experiments of Roth et al. (1991). The model allows for each of the three leading factors...

Persistent link: https://www.econbiz.de/10008836170

Game Theory Via Revealed Preferences

Ray, Indrajit; Zhou, Lin - Department of Economics and Related Studies, University …

We investigate equilibrium notions in game theory from the revealed preference approach. For extensive game forms with complete information, we derive a set of independent necessary and sufficient conditions for the observed outcomes to be rationalized by subgame perfect Nash equilibrium.

Persistent link: https://www.econbiz.de/10005523956

Cognition and Behavior in Normal-Form Games:An Experimental Study

Costa-Gomes, Miguel; Crawford, Vincent P.; Broseta, Bruno - Department of Economics and Related Studies, University …

This paper reports experiments designed to study strategic sophistication, the extent to which behavior in games reflects attempts to predict others' decisions, taking their incentives into account. We studied subjects' initial responses to normal-form games with various patterns of iterated...

Persistent link: https://www.econbiz.de/10005328529

Does Money Impede Convergence?

Hey, John D; Cagno, Daniela Di - Department of Economics and Related Studies, University … - 2015

Inspired by Clower’s conjecture that the necessity of trading through money in monetised economies might hinder convergence to competitive equilibrium, and hence, for example, cause unemploment, we experimentally investigate behaviour in markets where trading has to be done through money. In...

Persistent link: https://www.econbiz.de/10011168701

Does Sequentiality Impede Convergence?

Hey, John D.; Cagno, Daniela Di - Department of Economics and Related Studies, University … - 2013

Inspired by the conjecture that the necessity of trading through money in monetarised economies might hinder convergence to competitive equilibrium, and hence, for example, cause unemployment, we experimentally investigate behaviour in sequential markets. In order to evaluate the properties of...

Persistent link: https://www.econbiz.de/10010605344

Priming Cooperation in Social Dilemma Games

Drouvelis, M; Metcalfe, R; Powdthavee, N - Department of Economics and Related Studies, University … - 2010

Research on public goods mainly focuses its attention on the ability of incentives, beliefs and group structure to affect behaviour in social dilemma interactions. This paper investigates the pure effects of a rather subtle mechanism on social preferences in a one-shot linear public good game....

Persistent link: https://www.econbiz.de/10008493856

What Price Compromise? Testing a Possibly Surprising Implication of Nash Bargaining Theory

Bone, John; Hey, John D; Suckling, John - Department of Economics and Related Studies, University … - 2006

This paper identifies, and tests experimentally, a prediction of Nash Bargaining Theory that may appear counterintuitive. The context is a simple bargaining problem in which two players have to agree a choice from three alternatives. One alternative favours one player and a second favours the...

Persistent link: https://www.econbiz.de/10005328554