Travelers' Types

Pablo Brañas-Garza, Maria Paz Espinosa and Pedro Rey-Biel

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Abstract: This paper uses subjects' diverse self-reported justi...cations to explain discrepancies between observed heterogeneous behavior and the unique equilibrium prediction in a one-shot traveler's dilemma experiment. Principal components analysis suggests that iterative reasoning, aspiration levels, competitive behavior, attitudes towards risk and penalties and focal points may be behind di¤erent choices. Such reasons are coherent with same subjects' behavior in other tests and experiments in which these particular issues are prominent, and thus, we identify "types" of subjects. Overall, we conclude that subjects' self-justi...cations in complex strategic situations contain informational value which may be used to predict behavior in other situations of economic importance.

Keywords: experiments; D81; traveler's dilemma; self-reports; principal components; experiments.; C72; C81; C91; D81. (search for similar items in EconPapers)
Date: 2011-04-14
Note: View the original document on HAL open archive server: https://hal.science/hal-00978260
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Citations: View citations in EconPapers (15)

Published in Journal of Economic Behavior and Organization, 2011, 78 (1-2), pp.25. ⟨10.1016/j.jebo.2010.12.005⟩

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Journal Article: Travelers' types (2011)
Journal Article: Travelers’ types (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00978260

DOI: 10.1016/j.jebo.2010.12.005

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