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Assessing Mental Models via Recording the Decision Deliberations of Pairs

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Author Info

  • Siegfried K. Berninghaus

    ()
    (Karlsruhe Institute of Technology, Institute for Economic Theory and Statistics)

  • Werner Güth

    ()
    (Max Planck Institute of Economics, Strategic Interaction Group)

  • Charlotte Klempt

    ()
    (Institute for Applied Economic Research)

  • Kerstin Pull

    ()
    (Eberhard Karls Universität Tübingen)

Abstract

Two participants have to decide jointly, with the discussions preceding their choice being video/audiotaped. For two tasks, one with and one without strategic interaction, we refer to obvious reasoning styles as mental models. The videotaped discussions are analyzed according to which mental models are mentioned by one or both participants in the same pair and how decisive such arguments were. The mental models for the risky choice task are "analytic approach", "commitment mode", and "avoid chance", and for the outside-option game "equality seeking", "backward induction", and "forward induction". We classify each pair according to their mental constellation in both tasks and assess mental models in addition to collecting choice data. Altogether, this allows for better explanations, especially of heterogeneity in reasoning and deciding.

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File URL: http://pubdb.wiwi.uni-jena.de/pdf/wp_2013_012.pdf
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Bibliographic Info

Paper provided by Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics in its series Jena Economic Research Papers with number 2013-012.

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Date of creation: 21 Mar 2013
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Handle: RePEc:jrp:jrpwrp:2013-012

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Keywords: behavioral principles; videotaped experiments; outside option games;

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  1. Kerstin Pull, 2003. "Ultimatum Games and Wages: Evidence of an “Implicit Bargain”?," Schmalenbach Business Review (sbr), LMU Munich School of Management, vol. 55(2), pages 161-171, April.
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