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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

Abstract: 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)
Date: 2000-02
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Related works:
Working Paper: Ten Little Treasures of Game Theory and Ten Intuitive Contradictions (2004) Downloads
Journal Article: Ten Little Treasures of Game Theory and Ten Intuitive Contradictions (2001) Downloads
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