On the absorbability of the Guessing Game Theory. A Theoretical and Experimental Analysis
AbstractTheory absorption, a notion introduced by Morgenstern and Schwödiauer (1972) and further elaborated by Güth and Kliemt (2004), discusses the problem whether a theory can survive its own acceptance. Whereas this holds for strategic equilibria according to the assumptions on which they are based, the problem if theories are absorbable by at most boundedly rational decision makers is hardly discussed. Based on guessing game experiments we discuss the requirements of equilibrium theory absorption and test experimentally the effects of informing none, some or all players about how to derive equilibrium predictions.
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Bibliographic InfoPaper provided by Dipartimento di Scienze Economiche e Metodi Matematici - Università di Bari in its series series with number 0017.
Date of creation: Apr 2007
Date of revision: Apr 2007
theory absorption; guessing game; p-beauty contest; individual behaviour; elimination of dominated strategies;
Other versions of this item:
- Andrea Morone & Serena Sandri & Tobias Uske, 2006. "On the absorbability of the Guessing Game Theory - A Theoretical and Experimental Analysis," Papers on Strategic Interaction 2006-33, Max Planck Institute of Economics, Strategic Interaction Group.
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-05-19 (All new papers)
- NEP-EXP-2007-05-19 (Experimental Economics)
- NEP-GTH-2007-05-19 (Game Theory)
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