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Eureka Learning: Heuristics and response time in perfect information games

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  • McKinney, C. Nicholas
  • Van Huyck, John B.

Abstract

This paper investigates the possibility that people discover effective heuristics when playing similar perfect information games of varying complexity. We call this discovery experience Eureka Learning. We use a change-point analysis to identify 35 percent of our subjects as Eureka Learners.

Suggested Citation

  • McKinney, C. Nicholas & Van Huyck, John B., 2013. "Eureka Learning: Heuristics and response time in perfect information games," Games and Economic Behavior, Elsevier, vol. 79(C), pages 223-232.
    • Handle: RePEc:eee:gamebe:v:79:y:2013:i:c:p:223-232
    DOI: 10.1016/j.geb.2013.02.003
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    References listed on IDEAS

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    1. Nicholas McKinney, C. Jr. & Van Huyck, John B., 2007. "Estimating bounded rationality and pricing performance uncertainty," Journal of Economic Behavior & Organization, Elsevier, vol. 62(4), pages 625-639, April.
    2. Schwalbe, Ulrich & Walker, Paul, 2001. "Zermelo and the Early History of Game Theory," Games and Economic Behavior, Elsevier, vol. 34(1), pages 123-137, January.
    3. Teck-Hua Ho & Keith Weigelt, 1996. "Task Complexity, Equilibrium Selection, and Learning: An Experimental Study," Management Science, INFORMS, vol. 42(5), pages 659-679, May.
    4. Dufwenberg, Martin & Sundaram, Ramya & Butler, David J., 2010. "Epiphany in the Game of 21," Journal of Economic Behavior & Organization, Elsevier, vol. 75(2), pages 132-143, August.
    5. Battalio, Raymond & Samuelson, Larry & Van Huyck, John, 2001. "Optimization Incentives and Coordination Failure in Laboratory Stag Hunt Games," Econometrica, Econometric Society, vol. 69(3), pages 749-764, May.
    6. Gneezy, Uri & Rustichini, Aldo & Vostroknutov, Alexander, 2010. "Experience and insight in the Race game," Journal of Economic Behavior & Organization, Elsevier, vol. 75(2), pages 144-155, August.
    7. Wilcox, Nathaniel T, 1993. "Lottery Choice: Incentives, Complexity and Decision Time," Economic Journal, Royal Economic Society, vol. 103(421), pages 1397-1417, November.
    8. Aymard, Stephane & Serra, Daniel, 2001. "Do individuals use backward induction in dynamic optimization problems? An experimental investigation," Economics Letters, Elsevier, vol. 73(3), pages 287-292, December.
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    Citations

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    Cited by:

    1. William Neilson & Michael Price & Mikhael Shor, 2016. "Nudging Backward Induction," Working papers 2016-31, University of Connecticut, Department of Economics.
    2. Amnon Rapoport & Darryl A. Seale & Leonidas Spiliopoulos, 2023. "Progressive stopping heuristics that excel in individual and competitive sequential search," Theory and Decision, Springer, vol. 94(1), pages 135-165, January.
    3. Clithero, John A., 2018. "Response times in economics: Looking through the lens of sequential sampling models," Journal of Economic Psychology, Elsevier, vol. 69(C), pages 61-86.
    4. Leonidas Spiliopoulos & Andreas Ortmann, 2018. "The BCD of response time analysis in experimental economics," Experimental Economics, Springer;Economic Science Association, vol. 21(2), pages 383-433, June.
    5. Masiliūnas, Aidas, 2023. "Learning in rent-seeking contests with payoff risk and foregone payoff information," Games and Economic Behavior, Elsevier, vol. 140(C), pages 50-72.
    6. Hanaki, Nobuyuki & Kirman, Alan & Pezanis-Christou, Paul, 2018. "Observational and reinforcement pattern-learning: An exploratory study," European Economic Review, Elsevier, vol. 104(C), pages 1-21.

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    More about this item

    Keywords

    Bounded rationality; Experiment; Human behavior; Learning; Nim; Perfect information; Heuristics;
    All these keywords.

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • C92 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Group Behavior
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

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