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On the Empirical Content of Quantal Response Equilibrium Author info | Abstract | Publisher info | Download info | Related research | Statistics Philip A. Haile () (Cowles Foundation, Yale University )
Ali Hortacsu (University of Chicago)
Grigory Kosenok (New Economics School, Moscow)
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registered author(s):
The quantal response equilibrium (QRE) notion of McKelvey and Palfrey (1995) has recently attracted considerable attention, due largely to its widely documented ability to rationalize observed behavior in games played by experimental subjects. We show that this ability to fit the data, as typically measured in this literature, is uninformative. Without a priori distributional assumptions, a QRE can match any distribution of behavior by each player in any normal form game. We discuss approaches that might be taken to provide valid empirical evaluation of the QRE and discuss its potential value as an approximating empirical structure.
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Paper provided by Cowles Foundation, Yale University in its series Cowles Foundation Discussion Papers with number
1432.
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Length: 22 pages
Date of creation: Aug 2003Date of revision:
Publication status: Published in American Economic Review (2008), 98(1): 180-200Handle: RePEc:cwl:cwldpp:1432Contact details of provider: Postal: Yale University, Box 208281, New Haven, CT 06520-8281 USA Phone: (203) 432-3702 Fax: (203) 432-6167 Web page: http://cowles.econ.yale.edu/ More information through EDIRC
Order Information: Postal: Cowles Foundation, Yale University, Box 208281, New Haven, CT 06520-8281 USA
For technical questions regarding this item, or to correct its listing, contact: (Glena Ames).
Keywords: Quantal response equilibrium Testable restrictions Comparative statics Other versions of this item:
Article Paper Philip A. Haile & Ali Hortacsu & Grigory Kosenok, 0820.
"On the Empirical Content of Quantal Response Equilibrium ,"
Cowles Foundation Discussion Papers
1432R, Cowles Foundation, Yale University, revised Jun 0820.
[Downloadable!] Philip A. Haile & Ali Hortacsu & Grigory Kosenok, 2003.
"On the Empirical Content of Quantal Response Equilibrium ,"
Levine's Bibliography
666156000000000215, UCLA Department of Economics.
[Downloadable!] Philip A. Haile & Ali Hortacsu & Grigory Kosenok, 2006.
"On the Empirical Content of Quantal Response Equilibrium ,"
Working Papers
w0076, Center for Economic and Financial Research (CEFIR).
[Downloadable!] Philip A. Haile & Ali Hortacsu & Grigory Kosenok, 2004.
"On the Empirical Content of Quantal Response Equilibrium ,"
Yale School of Management Working Papers
ysm421, Yale School of Management.
[Downloadable!] Find related papers by JEL classification: C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation and Testing C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory C9 - Mathematical and Quantitative Methods - - Design of Experiments
This paper has been announced in the following NEP Reports :
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Philip A. Haile & Ali Hortacsu & Grigory Kosenok, 0820.
"On the Empirical Content of Quantal Response Equilibrium ,"
Cowles Foundation Discussion Papers
1432R, Cowles Foundation, Yale University, revised Jun 0820.
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"On the Empirical Content of Quantal Response Equilibrium ,"
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"On the Empirical Content of Quantal Response Equilibrium ,"
Cowles Foundation Discussion Papers
1432, Cowles Foundation, Yale University.
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"On the Empirical Content of Quantal Response Equilibrium ,"
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Full
references Cited by : (explanations , 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.)
Philip A. Haile & Ali Hortacsu & Grigory Kosenok, 0820.
"On the Empirical Content of Quantal Response Equilibrium ,"
Cowles Foundation Discussion Papers
1432R, Cowles Foundation, Yale University, revised Jun 0820.
[Downloadable!]
Other versions:
Philip A. Haile & Ali Hortacsu & Grigory Kosenok, 2003.
"On the Empirical Content of Quantal Response Equilibrium ,"
Levine's Bibliography
666156000000000215, UCLA Department of Economics.
[Downloadable!] Philip A. Haile & Ali Hortacsu & Grigory Kosenok, 2006.
"On the Empirical Content of Quantal Response Equilibrium ,"
Working Papers
w0076, Center for Economic and Financial Research (CEFIR).
[Downloadable!] Philip A. Haile & Ali Hortacsu & Grigory Kosenok, 2003.
"On the Empirical Content of Quantal Response Equilibrium ,"
Cowles Foundation Discussion Papers
1432, Cowles Foundation, Yale University.
[Downloadable!] Philip A. Haile & Ali Hortacsu & Grigory Kosenok, 2004.
"On the Empirical Content of Quantal Response Equilibrium ,"
Yale School of Management Working Papers
ysm421, Yale School of Management.
[Downloadable!] Philip A. Haile & Ali Hortaçsu & Grigory Kosenok, 2008.
"On the Empirical Content of Quantal Response Equilibrium ,"
American Economic Review ,
American Economic Association, vol. 98(1), pages 180-200, March.
Tilman Becker & Michael Carter & Jörg Naeve, 2005.
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