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An Experiment on the Value of Structural Information in a 2x2 Repeated Game

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  • Atanasios Mitropoulos

    (University of Magdeburg)

Abstract

In experimental studies pairs that repeatedly play the simple coordination game mutual fate control may regularly fail to coordinate when they are given little in-formation, i.e. when subjects are uninformed about the payoff matrix and feed-back is limited to their own payoff. Our experimental study shows that the provision of a small amount of structural information prior to playing the game changes subject behaviour and significantly improves performance, even though standard adaptive learning rules do not take such information into account and optimal adaptive rules do not differ much between the two treatments. Our study calls for a more intense investigation into the cognitive processing of information.

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File URL: http://128.118.178.162/eps/game/papers/0202/0202002.pdf
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Bibliographic Info

Paper provided by EconWPA in its series Game Theory and Information with number 0202002.

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Length: 11 pages
Date of creation: 04 Feb 2002
Date of revision:
Handle: RePEc:wpa:wuwpga:0202002

Note: Type of Document - MS Word 2000; prepared on IBM PC; to print on HP; pages: 11; figures: 5 tables included
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Web page: http://128.118.178.162

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Keywords: repeated games; experiments; information; coordination;

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References

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  1. Atanasios Mitropoulos, 2001. "Little Information, Efficiency, and Learning - An Experimental Study," Game Theory and Information 0110002, EconWPA.
  2. Atsushi Kajii & Stephen Morris, . ""The Robustness of Equilibria to Incomplete Information*''," CARESS Working Papres 95-18, University of Pennsylvania Center for Analytic Research and Economics in the Social Sciences.
  3. Nick Feltovich & John Duffy, 1999. "Does observation of others affect learning in strategic environments? An experimental study," International Journal of Game Theory, Springer, vol. 28(1), pages 131-152.
  4. Kagel, John H. & Kim, Chung & Moser, Donald, 1996. "Fairness in Ultimatum Games with Asymmetric Information and Asymmetric Payoffs," Games and Economic Behavior, Elsevier, vol. 13(1), pages 100-110, March.
  5. Smith, Vernon L, 1985. "Experimental Economics: Reply," American Economic Review, American Economic Association, vol. 75(1), pages 264-72, March.
  6. Atanasios Mitropoulos, 2001. "Learning Under Little Information: An Experiment on Mutual Fate Control," Game Theory and Information 0110003, EconWPA.
  7. Nick Feltovich, 2000. "Reinforcement-Based vs. Belief-Based Learning Models in Experimental Asymmetric-Information," Econometrica, Econometric Society, vol. 68(3), pages 605-642, May.
  8. Andreas Blume & Douglas V. DeJong & George R. Neumann & N. E. Savin, 2002. "Learning and communication in sender-receiver games: an econometric investigation," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 17(3), pages 225-247.
  9. Mitropoulos, Atanasios, 2001. "Learning under minimal information: An experiment on mutual fate control," Journal of Economic Psychology, Elsevier, vol. 22(4), pages 523-557, August.
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