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Eliciting beliefs in beauty contest experiments

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  • Lahav, Yaron

Abstract

Using elicited beliefs in several treatments of the beauty contest experiment, we show that (a) belief elicitation does not affect decisions, (b) beliefs and choices are inconsistent, and (c) players are more sophisticated compared to previous work.

Suggested Citation

  • Lahav, Yaron, 2015. "Eliciting beliefs in beauty contest experiments," Economics Letters, Elsevier, vol. 137(C), pages 45-49.
    • Handle: RePEc:eee:ecolet:v:137:y:2015:i:c:p:45-49
    DOI: 10.1016/j.econlet.2015.08.024
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    References listed on IDEAS

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    7. Sutter, Matthias, 2005. "Are four heads better than two? An experimental beauty-contest game with teams of different size," Economics Letters, Elsevier, vol. 88(1), pages 41-46, July.
    8. Martin G. Kocher & Matthias Sutter, 2005. "The Decision Maker Matters: Individual Versus Group Behaviour in Experimental Beauty-Contest Games," Economic Journal, Royal Economic Society, vol. 115(500), pages 200-223, January.
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    11. Colin F. Camerer & Teck-Hua Ho & Juin-Kuan Chong, 2004. "A Cognitive Hierarchy Model of Games," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 119(3), pages 861-898.
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    Cited by:

    1. Lee, Natalie, 2023. "Feigning ignorance for long-term gains," Games and Economic Behavior, Elsevier, vol. 138(C), pages 42-71.
    2. Ciril Bosch-Rosa & Thomas Meissner, 2020. "The one player guessing game: a diagnosis on the relationship between equilibrium play, beliefs, and best responses," Experimental Economics, Springer;Economic Science Association, vol. 23(4), pages 1129-1147, December.
    3. Qin, Botao, 2019. "Gender and the beauty contest game," MPRA Paper 99604, University Library of Munich, Germany.

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    More about this item

    Keywords

    Beauty contest; Belief elicitation; Higher order beliefs; Level of sophistication; Reasoning; Strategic play;
    All these keywords.

    JEL classification:

    • C9 - Mathematical and Quantitative Methods - - Design of Experiments
    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty

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