Fatal Attraction: Salience, Naivete, and Sophistication in Experimental Hide-and-Seek Games
"Hide-and-seek" games are zero-sum two-person games in which one player wins by matching the other's decision and the other wins by mismatching. Although such games are often played on cultural or geographic "landscapes" that frame decisions nonneutrally, equilibrium ignores such framing. This paper reconsiders the results of experiments by Rubinstein, Tversky, and others whose designs model nonneutral landscapes, in which subjects deviate systematically from equilibrium in response to them. Comparing alternative explanations theoretically and econometrically suggests that the deviations are well explained by a structural nonequilibrium model of initial responses based on "level-k" thinking, suitably adapted to nonneutral landscapes. (JEL C72, C92)
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References listed on IDEAS
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- Georg Weizsäcker, 2003.
"Ignoring the rationality of others: evidence from experimental normal-form games,"
LSE Research Online Documents on Economics
507, London School of Economics and Political Science, LSE Library.
- Weizsacker, Georg, 2003. "Ignoring the rationality of others: evidence from experimental normal-form games," Games and Economic Behavior, Elsevier, vol. 44(1), pages 145-171, July.
- Dale O. Stahl & Paul W. Wilson, 2010.
"On Players' Models of Other Players: Theory and Experimental Evidence,"
Levine's Working Paper Archive
542, David K. Levine.
- Stahl Dale O. & Wilson Paul W., 1995. "On Players' Models of Other Players: Theory and Experimental Evidence," Games and Economic Behavior, Elsevier, vol. 10(1), pages 218-254, July.
- Nagel, Rosemarie, 1995. "Unraveling in Guessing Games: An Experimental Study," American Economic Review, American Economic Association, vol. 85(5), pages 1313-26, December.
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