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Strategic sophistication of individuals and teams in experimental normal-form games
Sutter, Matthias; Czermak, Simon; Feri, Francesco - 2010
only 40% for individuals. -- Strategic sophistication ; beliefs ; experiment ; team decision making ; individual decision …We present an experiment on strategic thinking and behavior of individuals and teams in one-shot normal-form games …. Besides making choices, decision makers have to state their first- and second-order beliefs. We find that teams play the Nash …
Persistent link: https://www.econbiz.de/10003938152
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How cognitive skills affect strategic behavior : cognitive ability, fluid intelligence and judgment
Gill, David; Knepper, Zachary; Prowse, Victoria; Zhou, Junya - 2024
We explore the influence of cognitive ability and judgment on strategic behavior in the beauty contest game (where the Nash equilibrium action is zero). Using the level-k model of bounded rationality, cognitive ability and judgment both predict higher level strategic thinking. However,...
Persistent link: https://www.econbiz.de/10014584425
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Strategic complexity and the value of thinking
Gill, David; Prowse, Victoria - 2022
Response times are a simple low-cost indicator of the process of reasoning in strategic games. In this paper, we leverage the dynamic nature of response-time data from repeated strategic interactions to measure the strategic complexity of a situation by how long people think on average when they...
Persistent link: https://www.econbiz.de/10013191643
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Using response times to measure strategic complexity and the value of thinking in games
Gill, David; Prowse, Victoria L. - 2017
Response times are a simple low-cost indicator of the process of reasoning in strategic games (Rubinstein, 2007; Rubinstein, 2016). We leverage the dynamic nature of response-time data from repeated strategic interactions to measure the strategic complexity of a situation by how long people think on...
Persistent link: https://www.econbiz.de/10011607565
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Incentives for cooperation in teams: sociality meets decision rights
Butz, Britta; Guillén, Pablo; Harbring, Christine - 2021
We investigate the effect of a donation incentive tied to contributions to a public good when group members can decide on the size of the donation to be made. An up to 20 % donation of the public good was implemented either exogenously or endogenously by group members. In the Vote treatment,...
Persistent link: https://www.econbiz.de/10012494092
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Strategic sophistication of adolescents : evidence from experimental normal-form games
Czermak, Simon; Feri, Francesco; Glätzle-Rützler, Daniela - 2010
math grades are more strategic. -- Strategic thinking ; beliefs ; experiment ; age ; adolescents …
Persistent link: https://www.econbiz.de/10003987136
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Back to Edgeworth? : estimating the value of time using hedonic experiences
Krekel, Christian; MacKerron, George - 2023
waiting, £8.4 ($10.5) per hour of commuting, and £17.2 ($21.5) per hour of waiting during commuting (e.g. due to congestion …
Persistent link: https://www.econbiz.de/10014311979
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Collective intertemporal decisions and heterogeneity in groups
Glätzle-Rützler, Daniela; Lergetporer, Philipp; … - 2021
Many important intertemporal decisions are made by groups rather than individuals. What happens to collective decisions when there is internal conflict about the tradeoff between present and future has not been thoroughly investigated so far. We study experimentally the causal effect of group...
Persistent link: https://www.econbiz.de/10012415076
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Does decentralization of decisions increase the stability of large groups?
Bjedov, Tjaša; Lapointe, Simon; Madiès, Thierry; … - 2018
Using a laboratory experiment with nested local and global public goods, we analyze the stability of global groups when … individuals have the option to separate, according to the degree of decentralization of decision-making. We show that increasing …
Persistent link: https://www.econbiz.de/10011803271
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Same process, different outcomes : group performance in an acquiring a company experimen
Casari, Marco; Zhang, Jingjing; Jackson, Christine - 2015
difficult version. Implications are drawn on when to employ groups rather than individuals in decision making. …
Persistent link: https://www.econbiz.de/10011449224