Artikel
The minority of three-game: An experimental and theoretical analysis
We report experimental results on the minority of three-game, where three players choose one of two alternatives and the most rewarding alternative is the one chosen by a single player. This coordination game has many asymmetric equilibria in pure strategies that are non-strict and payoff-asymmetric and a unique symmetric mixed strategy equilibrium in which each player's behavior is based on the toss of a fair coin. This straightforward behavior is predicted by equilibrium selection, impulse-balance equilibrium, and payoff-sampling equilibrium. Experimental participants rely on various decision rules, and only a quarter of them perfectly randomize.
- Language
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Englisch
- Bibliographic citation
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Journal: Games ; ISSN: 2073-4336 ; Volume: 2 ; Year: 2011 ; Issue: 3 ; Pages: 333-354 ; Basel: MDPI
- Classification
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Wirtschaft
- Subject
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coordination
minority game
mixed strategy
learning models
experiments
- Event
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Geistige Schöpfung
- (who)
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Chmura, Thorsten
Güth, Werner
- Event
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Veröffentlichung
- (who)
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MDPI
- (where)
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Basel
- (when)
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2011
- DOI
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doi:10.3390/g2030333
- Handle
- Last update
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10.03.2025, 11:43 AM CET
Data provider
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Artikel
Associated
- Chmura, Thorsten
- Güth, Werner
- MDPI
Time of origin
- 2011
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