Chicken or Checkin'? Rational Learning in Repeated Chess Games
AbstractWe examine rational learning among expert chess players and how they update their beliefs in repeated games with the same opponent. We present a model that explains how equilibrium play is affected when players change their choice of strategy when receiving additional information from each encounter. We employ a large international panel dataset with controls for risk preferences and playing skills whereby the latter accounts for ability. Although expert chess players are intelligent, productive and equipped with adequate data and specialized computer programs, we find large learning effects. Moreover, as predicted by the model, risk-averse players learn substantially faster.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 5862.
Length: 29 pages
Date of creation: Jul 2011
Date of revision:
Contact details of provider:
Postal: IZA, P.O. Box 7240, D-53072 Bonn, Germany
Phone: +49 228 3894 223
Fax: +49 228 3894 180
Web page: http://www.iza.org
Postal: IZA, Margard Ody, P.O. Box 7240, D-53072 Bonn, Germany
Find related papers by JEL classification:
- C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-08-02 (All new papers)
- NEP-CBE-2011-08-02 (Cognitive & Behavioural Economics)
- NEP-EVO-2011-08-02 (Evolutionary Economics)
- NEP-GTH-2011-08-02 (Game Theory)
- NEP-MIC-2011-08-02 (Microeconomics)
- NEP-SPO-2011-08-02 (Sports & Economics)
- NEP-UPT-2011-08-02 (Utility Models & Prospect Theory)
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.:
- Eddie Dekel & Drew Fudenberg & David K. Levine, 2001.
"Learning to Play Bayesian Games,"
Harvard Institute of Economic Research Working Papers
1926, Harvard - Institute of Economic Research.
- Eddie Dekel & Drew Fudenberg & David K Levine, 2002. "Learning to Play Bayesian Games," Levine's Working Paper Archive 625018000000000151, David K. Levine.
- Dekel, Eddie & Fudenberg, Drew & Levine, David, 2004. "Learning to Play Bayesian Games," Scholarly Articles 3200612, Harvard University Department of Economics.
- Eddie Dekel & Drew Fudenberg & David K. Levine, 2000. "Learning to Play Bayesian Games," Discussion Papers 1322, Northwestern University, Center for Mathematical Studies in Economics and Management Science, revised Jul 2001.
- Tyran, Jean-Robert, 2003. "Behavioral Game Theory. Experiments in Strategic Interaction: Colin F. Camerer, Princeton University Press, Princeton, New Jersey, 2003, p. 550, Price $65.00/[UK pound]42.95, ISBN 0-691-09039-4," The Journal of Socio-Economics, Elsevier, vol. 32(6), pages 717-720, December.
- Ignacio Palacios-Huerta & Oscar Volij, .
Economic theory and game theory
020, Oscar Volij.
- Steven D. Levitt & John A. List & Sally E. Sadoff, 2009.
"Checkmate: Exploring Backward Induction Among Chess Players,"
NBER Working Papers
15610, National Bureau of Economic Research, Inc.
- Steven D. Levitt & John A. List & Sally E. Sadoff, 2011. "Checkmate: Exploring Backward Induction among Chess Players," American Economic Review, American Economic Association, vol. 101(2), pages 975-90, April.
- Steven Levitt & John List & Sally Sadoff, 2010. "Checkmate: Exploring backward induction among chess players," Artefactual Field Experiments 00081, The Field Experiments Website.
- Cornell, Bradford & Welch, Ivo, 1996. "Culture, Information, and Screening Discrimination," Journal of Political Economy, University of Chicago Press, vol. 104(3), pages 542-71, June.
- Falk, Armin & Heckman, James J., 2009.
"Lab Experiments Are a Major Source of Knowledge in the Social Sciences,"
IZA Discussion Papers
4540, Institute for the Study of Labor (IZA).
- Armin Falk & James J. Heckman, 2009. "Lab Experiments are a Major Source of Knowledge in the Social Sciences," Working Papers 200935, Geary Institute, University College Dublin.
- Armin Falk & James J. Heckman, 2009. "Lab Experiments are a Major Source of Knowledge in the Social Sciences," CESifo Working Paper Series 2894, CESifo Group Munich.
- Falk, Armin & Heckman, James J, 2010. "Lab Experiments are a Major Source of Knowledge in the Social Sciences," CEPR Discussion Papers 7620, C.E.P.R. Discussion Papers.
- Lang, Kevin, 1986. "A Language Theory of Discrimination," The Quarterly Journal of Economics, MIT Press, vol. 101(2), pages 363-82, May.
- Moul, Charles C. & Nye, John V.C., 2009. "Did the Soviets collude? A statistical analysis of championship chess 1940-1978," Journal of Economic Behavior & Organization, Elsevier, vol. 70(1-2), pages 10-21, May.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Mark Fallak).
If references are entirely missing, you can add them using this form.