Drift and Equilibrium Selection with Human and Computer Players

Mauro Caminati (), Alessandro Innocenti () and Roberto Ricciuti

Labsi Experimental Economics Laboratory University of Siena from University of Siena

Abstract: The theory of drift (Binmore and Samuelson 1999) concerns equilibrium selection in which second order disturbances may have first-order effects in the emergence of one equilibrium over the other. We provided experimental evidence with human players supporting the model in Caminati, Innocenti and Ricciuti (2006). In this paper we test it with conditioning by computer players. When computers are removed and humans are matched against each other, the comparative static properties of the model are confirmed.

Keywords: drift; equilibrium selection; evolutionary games; experiments. (search for similar items in EconPapers)
JEL-codes: C72 C92 (search for similar items in EconPapers)
Date: 2007-04
New Economics Papers: this item is included in nep-cbe, nep-evo, nep-exp and nep-gth
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http://www.labsi.org/wp/labsi12.pdf (application/pdf)

Related works:
Journal Article: Drift and equilibrium selection with human and computer players (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:usi:labsit:012

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