Rational Reasoning or Adaptive Behavior? Evidence from Two-Person Beauty Contest Games
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Detalles del recurso
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Rational Reasoning or Adaptive Behavior? Evidence from Two-Person Beauty Contest Games
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| Id. |
38558705 |
| Idioma |
cat
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| Titulo |
Rational Reasoning or Adaptive Behavior? Evidence from Two-Person Beauty Contest Games |
| Autor(es) |
Grosskopf, Brit
Nagel, Rosemarie
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| Localización |
http://hdl.handle.net/2072/5242
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| Versión |
1.0 |
| Estado |
Final
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| Descripción |
Many experiments have shown that human subjects do not necessarily behave in line with game theoretic assumptions and solution concepts. The reasons for this non-conformity are multiple. In this paper we study the argument whether a deviation from game theory is because subjects are rational, but doubt that others are rational as well, compared to the argument that subjects, in general, are boundedly rational themselves. To distinguish these two hypotheses, we study behavior in repeated 2-person and many-person Beauty- Contest-Games which are strategically different from one another. We analyze four different treatments and observe that convergence toward equilibrium is driven by learning through the information about the other player's choice and adaptation rather than self-initiated rational reasoning.
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| Tipo |
458238 bytes
application/pdf
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| Palabras clave |
Beauty contest, Guessing game, Bounded rationality, Weak dominance, Learning
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| Tipo de Interactividad |
Expositivo
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| Nivel de Interactividad |
muy bajo
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| Audiencia |
Estudiante
Profesor
Autor
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| Estructura |
Atomic |
| Coste |
no
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| Copyright |
sí
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Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/) |
| Formatos |
458238 bytes
application/pdf
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| Requerimientos técnicos |
Browser: Any
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| Relación |
[References] Economics and Business Working Papers Series; 1068
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| Fecha de contribución |
16-may-2009 |
| Contacto |
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