On the absorbability of the Guessing Game Theory. A Theoretical and Experimental Analysis

Andrea Morone (), Serena Sandri and Tobias Uske ()
Additional contact information
Serena Sandri: University of Dresden, Chair for Managerial Economics, Helmholtzstraße 10, 01069 Dresden, Germany

No 17, series from Dipartimento di Scienze Economiche - Università di Bari

Abstract: Theory absorption, a notion introduced by Morgenstern and Schwödiauer (1972) and further elaborated by Güth and Kliemt (2004), discusses the problem whether a theory can survive its own acceptance. Whereas this holds for strategic equilibria according to the assumptions on which they are based, the problem if theories are absorbable by at most boundedly rational decision makers is hardly discussed. Based on guessing game experiments we discuss the requirements of equilibrium theory absorption and test experimentally the effects of informing none, some or all players about how to derive equilibrium predictions.

Keywords: theory absorption; guessing game; p-beauty contest; individual behaviour; elimination of dominated strategies (search for similar items in EconPapers)
JEL-codes: C72 C91 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-exp and nep-gth
Date: 2007-04, Revised 2007-04
View list of references View citations in EconPapers

Downloads: (external link)
http://www.dse.uniba.it/Quaderni/SERIES/WP_0017.pdf (application/pdf)

Related works:
Working Paper: On the absorbability of the Guessing Game Theory - A Theoretical and Experimental Analysis (2006)
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: http://EconPapers.repec.org/RePEc:bai:series:wp0017

Access Statistics for this paper

More papers in series from Dipartimento di Scienze Economiche - Università di Bari
Address: Via Camillo Rosalba, 53 - 70124 - Bari ITALY
Contact information at EDIRC.
Series data maintained by Ruggiero Marco Paolillo ().