The Two-Person Harvard Game: An Experimental Analysis

Arbeitspapier

Two subjects have to repeatedly choose between two alternatives, A and B, where payoffs of an A or B-choice depend on the choices made by both players in a number of previous choices. Locally, alternative A gives always more payoff than alternative B. However, in terms of overall payoffs exclusive choice of B is a better strategy. The equilibrium predicted by the theory of melioration is to exclusively play A, while the Nash equilibrium is to almost exclusively play B. The predictive values of such equilibria are analyzed under three different informational conditions. Special attention is paid to the learning processes exhibited by players.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Bonn Econ Discussion Papers ; No. 23/2001

Classification and Topics

• Classification: Wirtschaft ; Noncooperative Games ; Design of Experiments: Laboratory, Group Behavior ; Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
• Subject: Bounded rationality ; Psychology ; Melioration ; Nash equilibrium ; Information ; Learning

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Apesteguia, Jose
• Event: Veröffentlichung
• (who): University of Bonn, Bonn Graduate School of Economics (BGSE)
• (where): Bonn
• (when): 2001

Further information

• Handle: http://hdl.handle.net/10419/78419
• Last update: 10.03.2025, 11:45 AM CET