EconPapers    
Economics at your fingertips  
 

Public Statistics and Private Experience: Varying Feedback Information in a Take-or-Pass Game

David Danz, Philippe Jehiel () and Steffen Huck

German Economic Review, 2016, vol. 17, issue 3, 359-377

Abstract: We study how subjects in an experiment use different forms of public information about their opponents’ past behavior. In the absence of public information, subjects appear to use rather detailed statistics summarizing their private experiences. If they have additional public information, they make use of this information even if it is less precise than their own private statistics - except for very high stakes. Making public information more precise has two consequences: It is also used when the stakes are very high and it reduces the number of subjects who ignore any information - public and private. That is, precise public information crowds in the use of own information. Finally, our results shed some light on unraveling in centipede games.

Keywords: Backward induction; analogy-based expectation equilibrium; learning; experiment (search for similar items in EconPapers)
Date: 2016
References: Add references at CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
https://doi.org/10.1111/geer.12098 (text/html)
For access to full text, subscription to the journal or payment for the individual article is required.

Related works:
Journal Article: Public Statistics and Private Experience: Varying Feedback Information in a Take-or-Pass Game (2016) Downloads
Working Paper: Public Statistics and Private Experience: Varying Feedback Information in a Take-or-Pass Game (2016)
Working Paper: Public Statistics and Private Experience: Varying Feedback Information in a Take-or-Pass Game (2016)
Working Paper: Public statistics and private experience: Varying feedback information in a take-or-pass game (2015) Downloads
Working Paper: Public statistics and private experience: Varying feedback information in a take or pass game (2004) Downloads
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:bpj:germec:v:17:y:2016:i:3:p:359-377

Ordering information: This journal article can be ordered from
https://www.degruyter.com/journal/key/ger/html

DOI: 10.1111/geer.12098

Access Statistics for this article

German Economic Review is currently edited by Peter Egger, Almut Balleer, Jesus Crespo-Cuaresma, Mario Larch, Aderonke Osikominu and Georg Wamser

More articles in German Economic Review from De Gruyter
Bibliographic data for series maintained by Peter Golla ().

 
Page updated 2025-03-31
Handle: RePEc:bpj:germec:v:17:y:2016:i:3:p:359-377