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Are the Treasures of Game Theory Ambiguous?

Jürgen Eichberger and David Kelsey

No 08-08, Sonderforschungsbereich 504 Publications from Sonderforschungsbereich 504, Universität Mannheim, Sonderforschungsbereich 504, University of Mannheim

Abstract: Goeree & Holt (2001) observe that, for some parameter values, Nash equilibrium provides good predictions for actual behaviour in experiments. For other payoff parameters, however, actual behaviour deviates consistently from that predicted by Nash equilibria. They attribute the robust deviations from Nash equilibrium to actual players’ considering not only marginal gains and losses but also total pay-offs. In this paper, we show that optimistic and pessimistic attitudes towards strategic ambiguity may induce such behaviour.

Pages: 33 pages
Date: 2008-05-27
New Economics Papers: this item is included in nep-exp and nep-gth
Note: Financial support from the Deutsche Forschungsgemeinschaft, SFB 504, at the University of Mannheim, is gratefully acknowledged.
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Related works:
Journal Article: Are the treasures of game theory ambiguous? (2011) Downloads
Working Paper: Are the Treasures of Game Theory Ambiguous? (2008) Downloads
Working Paper: Are the Treasures of Game Theory Ambiguous? (2008) Downloads
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