Assessing Mental Models via Recording the Decision Deliberations of Pairs
AbstractTwo 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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Bibliographic InfoPaper provided by Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics in its series Jena Economic Research Papers with number 2013-012.
Date of creation: 21 Mar 2013
Date of revision:
behavioral principles; videotaped experiments; outside option games;
Find related papers by JEL classification:
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- C90 - Mathematical and Quantitative Methods - - Design of Experiments - - - General
- D03 - Microeconomics - - General - - - Behavioral Economics; Underlying Principles
- G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-04-06 (All new papers)
- NEP-CBE-2013-04-06 (Cognitive & Behavioural Economics)
- NEP-CWA-2013-04-06 (Central & Western Asia)
- NEP-EXP-2013-04-06 (Experimental Economics)
- NEP-GTH-2013-04-06 (Game Theory)
- NEP-NEU-2013-04-06 (Neuroeconomics)
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.:
- 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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