Ten Little Treasures of Game Theory and Ten Intuitive Contradictions
Jacob Goeree () and
Charles Holt ()
Virginia Economics Online Papers from University of Virginia, Department of Economics
This paper reports laboratory data for a series of two-person games that are played only once. These games span the standard categories: static and dynamic games with complete and incomplete information. For each game, the treasure is a treatment for which behavior conforms quite nicely to the predictions of the Nash equilibrium or relevant refinement. In each case we change a key payoff parameter in a manner that does not alter the equilibrium predictions, but this theoretically neutral payoff change has a major (often dramatic) effect on observed behavior. These contradictions are generally consistent with simple economic intuition and with a model of iterated noisy introspection for one-shot games.
Keywords: Nash equilibrium; noncooperative games; experiments; bounded rationality; introspection (search for similar items in EconPapers)
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Working Paper: Ten Little Treasures of Game Theory and Ten Intuitive Contradictions (2004)
Journal Article: Ten Little Treasures of Game Theory and Ten Intuitive Contradictions (2001)
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Persistent link: https://EconPapers.repec.org/RePEc:vir:virpap:333
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