Cognition and behavior in two-person guessing games: An experimental study

Arbeitspapier

This paper reports experiments that elicit subjects' initial responses to 16 dominancesolvable two-person guessing games. The structure is publicly announced except for varying payoff parameters, to which subjects are given free access, game by game, through an interface that records their information searches. Varying the parameters allows strong separation of the behavior implied by leading decision rules and makes monitoring search a powerful tool for studying cognition. Many subjects' decisions and searches show clearly that they understand the games and seek to maximize their payoffs, but have boundedly rational models of others' decisions, which lead to systematic deviations from equilibrium.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: ISER Discussion Paper ; No. 613

Classification and Topics

• Classification: Wirtschaft ; Noncooperative Games ; Design of Experiments: Laboratory, Group Behavior ; Model Construction and Estimation
• Subject: noncooperative games ; experimental economics ; guessing games ; bounded rationality ; strategic sophistication ; cognition ; information search ; Informationsversorgung ; Beschränkte Rationalität ; Test ; Nichtkooperatives Spiel ; Kognition

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Costa-Gomes, Miguel A. ; Crawford, Vincent P.
• Event: Veröffentlichung
• (who): Osaka University, Institute of Social and Economic Research (ISER)
• (where): Osaka
• (when): 2004

Further information

• Handle: http://hdl.handle.net/10419/92654
• Last update: 10.03.2025, 11:43 AM CET