Arbeitspapier
When are mixed equilibria relevant?
Mixed Nash equilibria are a cornerstone of game theory, but their empirical relevance has always been controversial. We study in the laboratory two games whose unique NE is in completely mixed strategies; other treatments include the matching protocol (pairwise random vs population mean-matching), whether time is discrete or continuous, and whether players can specify mixtures or only pure strategies. Comparing point predictions, NE always does better than maximin and often does no worse than Logit QRE. NE predicts better than Center (50-50 mixes) under mean-matching, but otherwise not as well. By contrast, in a dominance solvable game, NE predicts better than alternatives in all treatments. Qualitative and quantitative dynamic models capture regularities across all treatments.
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Paper ; No. 747
- Klassifikation
-
Wirtschaft
Noncooperative Games
Stochastic and Dynamic Games; Evolutionary Games; Repeated Games
Design of Experiments: Laboratory, Group Behavior
- Thema
-
Nash equilibrium
minimax
mixed strategy
directional learning
laboratory experiment
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Friedman, Daniel
Zhao, Shuchen
- Ereignis
-
Veröffentlichung
- (wer)
-
University of California, Economics Department
- (wo)
-
Santa Cruz, CA
- (wann)
-
2019
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Friedman, Daniel
- Zhao, Shuchen
- University of California, Economics Department
Entstanden
- 2019
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