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Identifying the reasons for coordination failure in a laboratory experiment
Külpmann, Philipp; Khantadze, Davit - 2016
experiment. Using cognitive types, we can explain coordination failure in pure coordination games while differentiating between … coordination failure due to first- and higher-order beliefs. In our experiment, around 76% of the subjects have chosen the payoff …We investigate the effect of absence of common knowledge on the outcomes of coordination games in a laboratory …
Persistent link: https://www.econbiz.de/10011537616
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Identifying the reasons for coordination failure in a laboratory experiment
Külpmann, Philipp; Khantadze, Davit - 2016
experiment. Using cognitive types, we can explain coordination failure in pure coordination games while differentiating between … coordination failure due to first- and higher-order beliefs. In our experiment, around 76% of the subjects have chosen the payoff …We investigate the effect of absence of common knowledge on the outcomes of coordination games in a laboratory …
Persistent link: https://www.econbiz.de/10011582533
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Risk dominance, payoff dominance and probabilistic choice learning
Battalio, R.; Samuelson, L.; Huyck, J. van - Wisconsin Madison - Social Systems - 1998
Persistent link: https://www.econbiz.de/10005136847
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Learning in and about Games
Gerber, Anke - Institut für Volkswirtschaftslehre, …
’ payoffs. In a laboratory experiment we investigate whether players (a) learn the game they are playing, (b) learn to predict …
Persistent link: https://www.econbiz.de/10005184880
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Costly information acquisition in centralized matching markets
Hakimov, Rustamdjan; Kübler, Dorothea; Pan, Siqi - 2021
Every year during school and college admissions, students and their parents devote considerable time and effort to acquiring costly information about their own preferences. In a market where students are ranked by universities based on exam scores, we explore ways to reduce wasteful information...
Persistent link: https://www.econbiz.de/10012500709
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Fragility of Information Cascades:An Experimental Study using Elicited Beliefs
Koessler, Frédéric; Ziegelmeyer, Anthony; Bracht, Jürgen - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2008
This paper examines the occurrence and fragility of information cascades in laboratory experiments.One group of low informed subjects make predictions in sequence. In a matchedpairs design, another set of high informed subjects observe the decisions of the first group andmake predictions....
Persistent link: https://www.econbiz.de/10005866431
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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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Investigating the failure to best respond in experimental games
Alempaki, Despoina; Colman, Andrew M.; Kölle, Felix; … - 2019
In experimental games, a substantial minority of players often fail to best respond. Using two-person 3x3 one-shot games, we investigated whether 'structuring' the pre-decision deliberation process produces greater consistency between individuals' stated values and beliefs on the one hand and...
Persistent link: https://www.econbiz.de/10012131659
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Promoting Justice by Treating People Unequally: AnExperimental Study
Becker, Alice; Miller, Luis M. - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2009
Which inequalities among individuals are considered unjust? This paper reportsthe results of an experiment designed to …
Persistent link: https://www.econbiz.de/10005866424
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How to Preserve a Fortune: An Experimental Comparison of Foundations and Direct Transfers to the Heir
Güth, Werner; Koschmieder, Kurt-Dieter; Levati, Maria … - Max-Planck-Institut zur Erforschung von …
Direct transfers allow heirs to freely use what has been passed on to them. Bequeathers who do not trust their descendants to make proper use of the fortune may prefer investing it in a safe foundation, thereby limiting their descendants’ autonomy. In our study we compare experimentally these...
Persistent link: https://www.econbiz.de/10005866700