Individual and group behaviours in the traveller’s dilemma: an experimental study

Andrea Morone and Piergiuseppe Morone ()

MPRA Paper from University Library of Munich, Germany

Abstract: This paper provides an experimental test of the traveller’s dilemma using individual and group data. Our investigation aims to address three fundamental research questions, which can be summarised as follows: (i) claims are affected by the size of the penalty/reward; (ii) individual decisions differ significantly from group decisions; (iii) individual claims are affected by the induction of a focal point a là Schelling. Experimental findings reported in this paper provide answers to each of these questions showing that: (i) although the size of the penalty/reward did not affect subject choices in the first-period, it played a key role in determining subjects’ behaviour in the repeated game; (ii) overall, groups behave more rationally, in the sense that they were always closer to the Nash equilibrium; (iii) the reference point did not encourage coordination around the Pareto optimal choice.

Keywords: traveller’s dilemma; focal point; individual and group decision (search for similar items in EconPapers)
JEL-codes: C91 C92 D70 (search for similar items in EconPapers)
Date: 2012
New Economics Papers: this item is included in nep-cbe, nep-gth and nep-hpe
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/38199/1/MPRA_paper_38199.pdf original version (application/pdf)

Related works:
Journal Article: Individual and group behaviour in the traveler's dilemma: An experimental study (2014)
Working Paper: Individual and Group Behaviours in the Traveller's Dilemma: An Experimental Study (2012)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:38199

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().