Drift and equilibrium selection with human and computer players
AbstractThe theory of drift (Binmore and Samuelson 1999) concerns equilibrium selection in which second-order disturbances may have first-order effects in the emergence of one equilibrium over the other. We provided experimental evidence with human players supporting the model in Caminati, Innocenti and Ricciuti (2006). In this paper we test it with conditioning by computer players. When computers are removed and humans are matched against each other, the comparative static properties of the model are confirmed.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by AccessEcon in its journal Economics Bulletin.
Volume (Year): 3 (2008)
Issue (Month): 19 ()
Contact details of provider:
Other versions of this item:
- Mauro Caminati & Alessandro Innocenti & Roberto Ricciuti, 2007. "Drift and Equilibrium Selection with Human and Computer Players," Labsi Experimental Economics Laboratory University of Siena, University of Siena 012, University of Siena.
- C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
- C9 - Mathematical and Quantitative Methods - - Design of Experiments
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- M. Kandori & G. Mailath & R. Rob, 1999.
"Learning, Mutation and Long Run Equilibria in Games,"
Levine's Working Paper Archive
500, David K. Levine.
- Kandori, Michihiro & Mailath, George J & Rob, Rafael, 1993. "Learning, Mutation, and Long Run Equilibria in Games," Econometrica, Econometric Society, Econometric Society, vol. 61(1), pages 29-56, January.
- Kandori, M. & Mailath, G.J., 1991. "Learning, Mutation, And Long Run Equilibria In Games," Papers, Princeton, Woodrow Wilson School - John M. Olin Program 71, Princeton, Woodrow Wilson School - John M. Olin Program.
- Binmore, Ken, et al, 1993. "Focal Points and Bargaining," International Journal of Game Theory, Springer, Springer, vol. 22(4), pages 381-409.
- repec:att:wimass:9529 is not listed on IDEAS
- Ellison, Glenn, 1993.
"Learning, Local Interaction, and Coordination,"
Econometrica, Econometric Society,
Econometric Society, vol. 61(5), pages 1047-71, September.
- Caminati, Mauro & Innocenti, Alessandro & Ricciuti, Roberto, 2006. "Drift effect under timing without observability: Experimental evidence," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 61(3), pages 393-414, November.
- Binmore, K. & Samuelson, L., 1997.
"Evolutionary Drift and Equilibrium Selection,"
Working papers, Wisconsin Madison - Social Systems
9729r, Wisconsin Madison - Social Systems.
- Young, H Peyton, 1993. "The Evolution of Conventions," Econometrica, Econometric Society, Econometric Society, vol. 61(1), pages 57-84, January.
- Binmore, Ken & Samuelson, Larry, 1999. "Evolutionary Drift and Equilibrium Selection," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 66(2), pages 363-93, April.
- Roth, Alvin E & Schoumaker, Francoise, 1983. "Expectations and Reputations in Bargaining: An Experimental Study," American Economic Review, American Economic Association, American Economic Association, vol. 73(3), pages 362-72, June.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (John P. Conley).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.