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Three very simple games and what it takes to solve them
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SYSNO ASEP 0331497 Document Type J - Journal Article R&D Document Type Journal Article Subsidiary J Článek ve WOS Title Three very simple games and what it takes to solve them Author(s) Rydval, Ondřej (NHU-N) RID
Ortmann, Andreas (NHU-N) RID
Ostatnický, M. (CZ)Source Title Journal of Economic Behavior & Organization. - : Elsevier - ISSN 0167-2681
Roč. 72, č. 1 (2009), s. 589-601Number of pages 12 s. Language eng - English Country NL - Netherlands Keywords guessing games ; cognition ; bounded rationality Subject RIV AH - Economics R&D Projects LC542 GA MŠMT - Ministry of Education, Youth and Sports (MEYS) CEZ AV0Z70850503 - NHU-N (2005-2011) UT WOS 000271110900041 DOI 10.1016/j.jebo.2009.05.011 Annotation We study experimentally the nature of dominance violations in three minimalist dominance-solvable guessing games. Only about a third of our subjects report reasoning consistent with dominance; they all make dominant choices and almost all expect others to do so. Nearly two-third of our subjects report reasoning inconsistent with dominance, yet a quarter of them actually make dominant choices and half of those expect others to do so. Reasoning errors are more likely for subjects with lower working memory, intrinsic motivation and premeditation attitude. Dominance-incompatible reasoning arises mainly from subjects misrepresenting the strategic nature (payoff structure) of the guessing games. Workplace Economics Institute Contact Tomáš Pavela, pavela@cerge-ei.cz, Tel.: 224 005 122 Year of Publishing 2010
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