Finite mixture analysis of beauty-contest data from multiple samples

Antoni Bosch-Domenech, Jose Garcia-Montalvo, Rosemarie Nagel and Albert Satorra

Artefactual Field Experiments from The Field Experiments Website

Abstract: This paper develops a finite mixture distribution analysis of Beauty-Contest data obtained from diverse groups of experiments. ML estimation using the EM approach provides estimates for the means and variances of the component distributions, which are common to all the groups, and estimates of the mixing proportions, which are specific to each group. This estimation is performed without imposing constraints on the parameters of the composing distributions. The statistical analysis indicates that many individuals follow a common pattern of reasoning described as iterated best reply (degenerate), and shows that the proportions of people thinking at different levels of depth vary across groups.

Date: 2004
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://s3.amazonaws.com/fieldexperiments-papers2/papers/00013.pdf

Related works:
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:feb:artefa:00013

Access Statistics for this paper

More papers in Artefactual Field Experiments from The Field Experiments Website
Bibliographic data for series maintained by Francesca Pagnotta ().