A Model of Noisy Introspection
AbstractThis paper presents a theoretical model of noisy introspection designed to explain behavior in games played only once. The equilibrium determines layers of beliefs about others' beliefs about ..., etc., but allows for surprises by relaxing the equilibrium requirement that belief distributions coincide with decision distributions. The paper contains a convergence proof and reports estimated introspection and error parameters for data from 37 one-shot matrix games. The accuracy of the model is compared with that of two alternative approaches: the Nash equilibrium and the logit quantal response equilibrium.
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Bibliographic InfoPaper provided by University of Virginia, Department of Economics in its series Virginia Economics Online Papers with number 343.
Length: 22 pages
Date of creation: Feb 2000
Date of revision:
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Web page: http://www.virginia.edu/economics/home.html
game theory; introspection; Nash equilibrium; experiments.;
Other versions of this item:
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- C92 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Group Behavior
This paper has been announced in the following NEP Reports:
- NEP-ALL-2000-02-28 (All new papers)
- NEP-EXP-2000-02-28 (Experimental Economics)
- NEP-LAB-2000-02-28 (Labour Economics)
- NEP-MIC-2000-02-28 (Microeconomics)
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