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attention only to specific cells. Our results suggest that subjects apply boundedly rational decision heuristics that involve … best responding to a simplification of the decision problem, obtained either by ignoring the other players' motivations or …
Persistent link: https://www.econbiz.de/10009709528
In many experiments, the Nash equilibrium concept seems not to predict well. One reason may be that players have non-selfish preferences over outcomes. As a consequence, even when they are told what the material payoffs of the game are, mutual knowledge of preferences may not be satisfied. We...
Persistent link: https://www.econbiz.de/10011644480
We introduce a simple procedure to be used for selecting the strategies most likely to be played by inexperienced agents who interact in one shot 2x2 games. We start with an axiomatic description of a function that may capture players' beliefs. Various proposals connected with the concept of...
Persistent link: https://www.econbiz.de/10010439356
In this paper we test the effect of descriptive "features" on initial strategic behavior in normal form games, where "descriptive" are all those features that can be modified without altering the (Nash) equilibrium structure of a game. We observe that our experimental subjects behave according...
Persistent link: https://www.econbiz.de/10008729032
We introduce a set-valued solution concept, M equilibrium, to capture empirical regularities from over half a century of game-theory experiments. We show M equilibrium serves as a meta theory for various models that hitherto were considered unrelated. M equilibrium is empirically robust and,...
Persistent link: https://www.econbiz.de/10013231707
The attack and defense game is a game in which an attacker (a group of attackers) has an incentive to revise the status quo and a defender (a group of defenders) wants to protect it. The asymmetry in objectives creates incompatible interests and results in a mixed-strategy Nash equilibrium....
Persistent link: https://www.econbiz.de/10012864020
We report some experiments conducted to test whether ambiguity influences behavior in a coordination game. We study the behavior of subjects in the presence of ambiguity and attempt to determine whether they prefer to choose an ambiguity safe option. We find that this strategy, which is not...
Persistent link: https://www.econbiz.de/10014169291
The Aumann (1990) conjecture states that cheap-talk messages do not necessarily help to coordinate on efficient Nash equilibria. In an experimental test of Aumann’s conjecture, Charness (2000) found that cheap-talk messages facilitate coordination when they precede the action, but not when...
Persistent link: https://www.econbiz.de/10009386360
We study extrapolation between games in a laboratory experiment. Participants in our experiment first play either the …
Persistent link: https://www.econbiz.de/10008747644
'. For the purpose of the experiment we used a Nash demand game with discrete strategies. We found that subjects without any …
Persistent link: https://www.econbiz.de/10012936354