Understanding decision processes in guessing games: a protocol analysis approach
C. Monica Capra
Journal of the Economic Science Association, 2019, vol. 5, issue 1, No 11, 123-135
Abstract Protocol analysis, in the form of concurrent verbal ‘thinking aloud’ reports, is a method of collecting and analyzing data about cognitive processes. This approach can help economists in evaluating competing theories of behavior and in categorizing heterogeneity of thinking patterns. As a proof of concept, I tested this method in the context of a guessing game. I found that concurrent think aloud protocols can inform us about individual’s thought processes without affecting decisions. The method allowed me to identify game theoretic thinking and heterogeneous approaches to unravelling the guessing game. The think aloud protocol is inexpensive and scalable, and it is a useful tool for identifying empirical regularities regarding decision processes.
Keywords: Protocol analysis; Process data; Guessing games (search for similar items in EconPapers)
JEL-codes: D91 C81 C91 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed
Downloads: (external link)
http://link.springer.com/10.1007/s40881-019-00074-0 Abstract (text/html)
Access to the full text of the articles in this series is restricted.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:spr:jesaex:v:5:y:2019:i:1:d:10.1007_s40881-019-00074-0
Ordering information: This journal article can be ordered from
Access Statistics for this article
Journal of the Economic Science Association is currently edited by Nikos Nikiforakis and Robert Slonim
More articles in Journal of the Economic Science Association from Springer, Economic Science Association Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().