Three very simple games and what it takes to solve them

Ondrej Rydval, Andreas Ortmann and Michal Ostatnicky

Journal of Economic Behavior & Organization, 2009, vol. 72, issue 1, 589-601

Abstract: We study experimentally the nature of dominance violations in three minimalist dominance-solvable guessing games. Only about a third of our subjects report reasoning consistent with dominance; they all make dominant choices and almost all expect others to do so. Nearly two-third of our subjects report reasoning inconsistent with dominance, yet a quarter of them actually make dominant choices and half of those expect others to do so. Reasoning errors are more likely for subjects with lower working memory, intrinsic motivation and premeditation attitude. Dominance-incompatible reasoning arises mainly from subjects misrepresenting the strategic nature (payoff structure) of the guessing games.

Keywords: Cognition; Bounded; rationality; Belief; Guessing; game; Experiment (search for similar items in EconPapers)
Date: 2009
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (32)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0167-2681(09)00148-6
Full text for ScienceDirect subscribers only

Related works:
Working Paper: Three Very Simple Games and What It Takes to Solve Them (2009)
Working Paper: Three Very Simple Games and What It Takes to Solve Them (2008)
Working Paper: Three Very Simple Games and What It Takes to Solve Them (2007)
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:eee:jeborg:v:72:y:2009:i:1:p:589-601

Access Statistics for this article

Journal of Economic Behavior & Organization is currently edited by Houser, D. and Puzzello, D.

More articles in Journal of Economic Behavior & Organization from Elsevier
Bibliographic data for series maintained by Catherine Liu ().