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Individual characteristics and behavior in repeated games: an experimental study

Listed author(s):
  • Douglas Davis

    (Virginia Commonwealth University)

  • Asen Ivanov

    ()

    (Queen Mary, University of London)

  • Oleg Korenok

    (Virginia Commonwealth University)

Abstract Using a laboratory experiment, we investigate whether a variety of behaviors in repeated games are related to an array of individual characteristics that are popular in economics: risk attitude, time preference, trust, trustworthiness, altruism, strategic skills in one-shot matrix games, compliance with first-order stochastic dominance, ability to plan ahead, and gender. We do find some systematic relationships. A subject’s compliance with first-order stochastic dominance as well as, possibly, patience, gender, and altruism have some systematic effects on her behavior in repeated games. At the level of a pair of subjects who are playing a repeated game, each subject’s gender as well as, possibly, patience and ability to choose an available dominant strategy in a one-shot matrix game systematically affect the frequency of the cooperate–cooperate outcome. However, overall, the number of systematic relationships is surprisingly small.

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File URL: http://link.springer.com/10.1007/s10683-014-9427-7
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Article provided by Springer & Economic Science Association in its journal Experimental Economics.

Volume (Year): 19 (2016)
Issue (Month): 1 (March)
Pages: 67-99

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Handle: RePEc:kap:expeco:v:19:y:2016:i:1:d:10.1007_s10683-014-9427-7
DOI: 10.1007/s10683-014-9427-7
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Web page: https://www.economicscience.org/index.html;jsessionid=3F1701A870A8B0D3BDB91479792ADFA5
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  2. Jim Engle-Warnick & Robert Slonim, 2006. "Inferring repeated-game strategies from actions: evidence from trust game experiments," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 28(3), pages 603-632, August.
  3. Douglas Davis & Oleg Korenok & Robert Reilly, 2010. "Cooperation without coordination: signaling, types and tacit collusion in laboratory oligopolies," Experimental Economics, Springer;Economic Science Association, vol. 13(1), pages 45-65, March.
  4. Douglas Davis & Asen Ivanov & Oleg Korenok, 2014. "Aspects of Behavior in Repeated Games: An Experimental Study," Working Papers 727, Queen Mary University of London, School of Economics and Finance.
  5. Ernesto Reuben & Sigrid Suetens, 2012. "Revisiting strategic versus non-strategic cooperation," Experimental Economics, Springer;Economic Science Association, vol. 15(1), pages 24-43, March.
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  11. Charles A. Holt & Susan K. Laury, 2002. "Risk Aversion and Incentive Effects," American Economic Review, American Economic Association, vol. 92(5), pages 1644-1655, December.
  12. Sabater-Grande, Gerardo & Georgantzis, Nikolaos, 2002. "Accounting for risk aversion in repeated prisoners' dilemma games: an experimental test," Journal of Economic Behavior & Organization, Elsevier, vol. 48(1), pages 37-50, May.
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