We analyze a one-shot experiment on the traveler's dilemma in which members of the Game Theory Society, were asked to submit both a (possibly mixed) strategy and their belief concerning the average strategy of their opponents. Very few entrants expect and play the unique Nash equilibrium, while we observe a fifth playing the cooperative solution of the game, i.e. a strictly dominated strategy. The experimental data suggest to analyze the game as one of incomplete information. Most strategies observed are in the support of its Bayesian Nash equilibria. A notable exception is the Nash equilibrium strategy of the original game.
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Find related papers by JEL classification: C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
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Mathias Erlei, 2003.
"Heterogeneous Social Preferences,"
TUC Working Papers in Economics
0001, Abteilung für Volkswirtschaftslehre, Technische Universität Clausthal (Department of Economics, Technical University Clausthal), revised Jun 2004.
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