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A case of evolutionarily stable attainable equilibrium in the laboratory

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  • Christoph Kuzmics

    (University of Graz)

  • Daniel Rodenburger

    (University of Jena)

Abstract

We reinvestigate data from the voting experiment of Forsythe et al. (Soc Choice Welf 10:223–247, 1993). In every one of 24 rounds, 28 players were randomly (re)allocated into two groups of 14 to play a voting stage game with or without a preceding opinion poll phase. We find that the null hypothesis that play in every round is given by a particular evolutionarily stable attainable equilibrium of the 14-player stage game cannot be rejected if we account for risk aversion (or a heightened concern for coordination), calibrated in another treatment.

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  • Christoph Kuzmics & Daniel Rodenburger, 2020. "A case of evolutionarily stable attainable equilibrium in the laboratory," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 70(3), pages 685-721, October.
  • Handle: RePEc:spr:joecth:v:70:y:2020:i:3:d:10.1007_s00199-019-01224-5
    DOI: 10.1007/s00199-019-01224-5
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    More about this item

    Keywords

    Opinion polls; Elections; Testing; Nash equilibrium; Attainable equilibrium; Evolutionary stability;
    All these keywords.

    JEL classification:

    • C57 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Econometrics of Games and Auctions
    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior

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