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Strategic sophistication of individuals and teams in experimental normal-form games

Sutter, Matthias; Czermak, Simon; Feri, Francesco - 2010

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 strategy significantly more often, and their choices...

Persistent link: https://www.econbiz.de/10010269696

Mechanisms for efficient voting with private information about preferences

Engelmann, Dirk; Grimm, Veronika - 2008

We experimentally study behavior in a simple voting game where players have private information about their preferences. With random matching, subjects overwhelmingly follow the dominant strategy to exaggerate their preferences, which leads to inefficiency. We analyze an exogenous linking...

Persistent link: https://www.econbiz.de/10003894591

Strategic sophistication of individuals and teams in experimental normal-form games

Sutter, Matthias; Czermak, Simon; Feri, Francesco - 2010

Persistent link: https://www.econbiz.de/10003938152

Employment duration and resistance to wage reductions : experimental evidence

Burda, Michael C.; Güth, Werner; Kirchsteiger, Georg; … - 1998 - Rev.

One of the long-standing puzzles in economics is why wages do not fall sufficiently in recessions so as to avoid increases in unemployment. Put differently, if the competitive market wage declines, why don’t employers simply force their employees to accept lower wages as well? As an...

Persistent link: https://www.econbiz.de/10009578579

The minority game unpacked : coordination and competition in a team-based experiment

Devetag, Giovanna; Pancotto, Francesca; Brenner, Thomas - 2011

reinforcement learning models than with belief-based models. Showing level-2 rationality (i.e., reasoning about others' beliefs) is … process level to the validity of modeling behavior using low-rationality reinforcement learning models. -- coordination … ; minority game ; market efficiency ; information ; self-organization ; reinforcement learning …

Persistent link: https://www.econbiz.de/10009259730

The behavioral impact of emotions in a power to take game : an experimental study

Bosman, Ronald; Winden, Frans A. A. M. van - 1999

The power to take game is a simple two player game where players arerandomly divided into pairs consisting of a take authority and responder.Both players in each pair have earned an own income in an individual realeffort decision-making experiment preceding the take game. The gameconsists of two...

Persistent link: https://www.econbiz.de/10011301155

Choosing the carrot or the stick? : endogenous institutional choice in social dilemma situations

Sutter, Matthias; Haigner, Stefan; Kocher, Martin - 2008

We analyze an experimental public goods game in which group members can endogenously determine whether they want to supplement a standard voluntary contribution mechanism with the possibility of rewarding or punishing other group members. We find a large and positive effect of endogenous...

Persistent link: https://www.econbiz.de/10009731789

Does truth win when teams reason strategically?

Brosig-Koch, Jeannette; Heinrich, Timo; Helbach, Christoph - 2013

This study tests experimentally whether teams can create synergies in strategic interactions. For our comparison between team and individual behavior we employ the race game. This game has the advantage that the optimal strategy does neither depend on beliefs about other players nor on...

Persistent link: https://www.econbiz.de/10009687741

Cooperating, fast and slow : testing the social heuristics hypothesis

Strømland, Eirik; Tjøtta, Sigve; Torsvik, Gaute - 2016

Are humans intuitively cooperative, or do we need to deliberate in order to be generous to others? The Social Heuristics Hypothesis (SHH) proposes that fast instinctive decision making promotes cooperation in social dilemmas. In this paper, we conduct a novel time-pressure experiment to shed...

Persistent link: https://www.econbiz.de/10011458007

Imitation : theory and experimental evidence

Alpesteguia, Jose; Huck, Steffen; Oechssler, Joerg - 2003

. In alaboratory experiment we test the different theories by systematically varying informationconditions. We find that …

Persistent link: https://www.econbiz.de/10011509505