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Expectation Formation in Step-Level Public Good Games

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Author Info

  • Offerman, Theo
  • Sonnemans, Joep
  • Schram, Arthur

Abstract

This article focuses on the process of expectation formation. Specifically, the question is addressed whether individuals think strategically when they form beliefs about other players' behavior. Most belief learning models assume that people abstract from strategic considerations. Using an incentive-compatible mechanism, experimental data are obtained on subjects' expectations in a step-level public good game and in a game against nature. Beliefs in the interactive games develop in the same way as in the game against nature, providing evidence that strategic considerations do not play a role. The evidence is consistent with predictions derived from the naive Bayesian model. Copyright 2001 by Oxford University Press.

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Bibliographic Info

Article provided by Western Economic Association International in its journal Economic Inquiry.

Volume (Year): 39 (2001)
Issue (Month): 2 (April)
Pages: 250-69

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Handle: RePEc:oup:ecinqu:v:39:y:2001:i:2:p:250-69

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Cited by:
  1. Sabrina Teyssier, 2009. "Inequity and Risk Aversion in Sequential Public Good Games," Post-Print halshs-00422669, HAL.
  2. Antoine Terracol & Jonathan Vaksmann, 2007. "Dumbing down rational players : Learning and teaching in an experimental game," Documents de travail du Centre d'Economie de la Sorbonne bla07017, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
  3. Sam Asher & Lorenzo Casaburi & Plamen Nikolov, 2011. "One Step at a Time: Does Gradualism Build Coordination?," Working Papers 1113, University of Namur, Department of Economics.
  4. repec:hal:cesptp:hal-00607232 is not listed on IDEAS
  5. Kyle Hyndman & Antoine Terracol & Jonathan Vaksmann, 2009. "Learning and sophistication in coordination games," Experimental Economics, Springer, vol. 12(4), pages 450-472, December.
  6. Dhaene, Geert & Bouckaert, Jan, 2010. "Sequential reciprocity in two-player, two-stage games: An experimental analysis," Games and Economic Behavior, Elsevier, vol. 70(2), pages 289-303, November.
  7. Michael McBride, 2010. "Threshold uncertainty in discrete public good games: an experimental study," Economics of Governance, Springer, vol. 11(1), pages 77-99, February.

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