Edgar Allan Poe's riddle: Framing effects in repeated matching pennies games
AbstractFraming effects have a significant influence on the finitely repeated matching pennies game. The combination of being labelled "a guesser," and having the objective of matching the opponent's action, appears to be advantageous. We find that being a player who aims to match the opponent's action is advantageous irrespective of whether the player moves first or second. We examine alternative explanations for our results and relate them to Edgar Allan Poe's "The Purloined Letter." We propose a behavioral model which generates the observed asymmetry in the players' performance.
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Bibliographic InfoArticle provided by Elsevier in its journal Games and Economic Behavior.
Volume (Year): 71 (2011)
Issue (Month): 1 (January)
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Web page: http://www.elsevier.com/locate/inca/622836
Matching pennies Even and odd Framing effects Edgar Allan Poe;
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- Simeon Schudy & Verena Utikal, 2012.
"The Influence of (Im)perfect Data Privacy on the Acquisition of Personal Health Data,"
Working Paper Series of the Department of Economics, University of Konstanz
2012-12, Department of Economics, University of Konstanz.
- Simeon Schudy & Verena Utikal, 2012. "The Influence of (Im)perfect Data Privacy on the Acquisition of Personal Health Data," TWI Research Paper Series 76, Thurgauer Wirtschaftsinstitut, Universität Konstanz.
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