An Eye-Tracking Study of Feature-Based Choice in One-Shot Games
AbstractWe analyze subjects’ eye movements while they make decisions in a series of one-shot games. The majority of them perform a partial and selective analysis of the payoff matrix, often ignoring the payoffs of the opponent and/or paying attention only to specific cells. Our results suggest that subjects apply boundedly rational decision heuristics that involve best responding to a simplification of the decision problem, obtained either by ignoring the other players’ motivations or by considering them only for a subset of outcomes. Finally, we find a correlation between types of eye movements observed and choices in the games.
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Bibliographic InfoPaper provided by ULB -- Universite Libre de Bruxelles in its series Working Papers ECARES with number ECARES 2013-06.
Length: 53 p.
Date of creation: Jan 2013
Date of revision:
Publication status: Published by:
one-shot games; eye-tracking; similarity; categorization; focal points; experimental economics; individual behavior; behavioral economics;
Find related papers by JEL classification:
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
- D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-02-08 (All new papers)
- NEP-CBE-2013-02-08 (Cognitive & Behavioural Economics)
- NEP-EVO-2013-02-08 (Evolutionary Economics)
- NEP-EXP-2013-02-08 (Experimental Economics)
- NEP-GTH-2013-02-08 (Game Theory)
- NEP-NEU-2013-02-08 (Neuroeconomics)
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