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A situation in which the regularity in nature can be utilized while competition is to be avoided is modelled by the Parasite game. In this game regular behaviour could enhance guessing nature but strategic randomization is required to avoid being outguessed. In an experiment, 60 pairs of...
Persistent link: https://www.econbiz.de/10010310358
When two agents of unequal strength compete, the stronger one is expected to always win the competition. This expectation is based on the assumption that evaluation of performance is flawless. If, however, the agents are evaluated on the basis of only a small sample of their performance, the...
Persistent link: https://www.econbiz.de/10005752843
Even with ample time and data at their disposal, people often make do with small samples, which increases their risk of making the wrong decision. A theoretical analysis indicates, however, that when the decision involves selecting among competing, adaptive agents who are eager to be selected,...
Persistent link: https://www.econbiz.de/10005596263
Regularities in the environment are used to decide what course of action to take and how to prepare for future events. Here we focus on the utilization of regularities for prediction and argue that the commonly considered measure of regularity - the strength of the contingency between antecedent...
Persistent link: https://www.econbiz.de/10005596274
When two or more agents compete for a bonus and the agents' productivity in each of several possible occurrences depends stochastically on (constant) effort, the number of times that are checked to assign the bonus affects the level of uncertainty in the selection process. Uncertainty, in turn,...
Persistent link: https://www.econbiz.de/10005090471
The phenomenon of predating predators requires at least three specimens to whom we refer as players 1, 2, and 3. Player 1 has simply to guess nature when trying to find food. Player 2 is hunting player 1 in the hope that 1 is well fed but must also avoid being hunted by player 3. One major...
Persistent link: https://www.econbiz.de/10005730450
This paper raises the question of whether differential regularity in the repetition of a set of items would elicit a differential regularity in the repetition of a set of items would elicit a differential liking for those items. Two experiments are reported. In the first, 120 participants either...
Persistent link: https://www.econbiz.de/10005730483
The paper presents a set of games of competition between two or three players in which reward is jointly determined by a stochastic biased mechanism and players’ choices. More specifically, a resource can be found with unequal probabilities in one of two locations. The first agent is...
Persistent link: https://www.econbiz.de/10005709858
Many competitions require investment of nonrefundable resources, e.g., political campaigns, financial markets, sports or courting rituals. One contestant wins the prize for the invested amount, while all others forfeit their investments without receiving compensation. Frequently, contests are...
Persistent link: https://www.econbiz.de/10010753775
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