A model of noisy introspection
AbstractThis paper presents a theoretical model of noisy introspection designed to explain behavior in games played only once. The equilibrium determines layers of beliefs about others' beliefs about ..., etc., but allows for surprises by relaxing the equilibrium requirement that belief distributions coincide with decision distributions. The paper contains a convergence proof and reports estimated introspection and error parameters for data from 37 one-shot matrix games. The accuracy of the model is compared with that of two alternative approaches: the Nash equilibrium and the logit quantal response equilibrium.
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Bibliographic InfoArticle provided by Elsevier in its journal Games and Economic Behavior.
Volume (Year): 46 (2004)
Issue (Month): 2 (February)
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Web page: http://www.elsevier.com/locate/inca/622836
Other versions of this item:
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- C92 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Group Behavior
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