Non-equilibrium play in centipede games

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F67985998%3A_____%2F16%3A00497239" target="_blank" >RIV/67985998:_____/16:00497239 - isvavai.cz</a>

Výsledek na webu

—

DOI - Digital Object Identifier

—

Jazyk výsledku

angličtina

Název v původním jazyce

Non-equilibrium play in centipede games

Popis výsledku v původním jazyce

Centipede games represent a classic example of a strategic situation, where the equilibrium prediction is at odds with human behavior. This study is explicitly designed to discriminate among the proposed explanations for initial responses in Centipede games. Using many different Centipede games, our approach determines endogenously whether one or more explanations are empirically relevant. We nd that non-equilibrium behavior is too heterogeneous to be explained by a single model. However, most non-equilibrium choices can be fully explained by level-k thinking and quantal response equilibrium, in roughly equal proportions. Preference-based models play a negligible role in explaining non-equilibrium play.

Název v anglickém jazyce

Non-equilibrium play in centipede games

Popis výsledku anglicky

Centipede games represent a classic example of a strategic situation, where the equilibrium prediction is at odds with human behavior. This study is explicitly designed to discriminate among the proposed explanations for initial responses in Centipede games. Using many different Centipede games, our approach determines endogenously whether one or more explanations are empirically relevant. We nd that non-equilibrium behavior is too heterogeneous to be explained by a single model. However, most non-equilibrium choices can be fully explained by level-k thinking and quantal response equilibrium, in roughly equal proportions. Preference-based models play a negligible role in explaining non-equilibrium play.

Druh

O - Ostatní výsledky

CEP obor

—

OECD FORD obor

50201 - Economic Theory

Projekt

<a href="/cs/project/GA14-22044S" target="_blank" >GA14-22044S: Učení a sítě</a><br>

Návaznosti

P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Rok uplatnění

2016

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů