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An Experiment on Lowest Unique Integer Games

Author

Listed:
  • Takashi Yamada

    (Faculty of Global and Science Studies, Yamaguchi University)

  • Nobuyuki Hanaki

    (UNS - Université Nice Sophia Antipolis (1965 - 2019), GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis (1965 - 2019) - CNRS - Centre National de la Recherche Scientifique - UniCA - Université Côte d'Azur, COMUE UCA - COMUE Université Côte d'Azur (2015-2019))

Abstract

We experimentally study Lowest Unique Integer Games (LUIGs). In a LUIG, N (>= 3) players submit a positive integer up to M and the player choosing the smallest number not chosen by anyone else wins. LUIGs are simplified versions of real systems such as lottery games and Lowest/Highest Unique Bid Auctions that have been attracting attention from scholars, yet experimental studies are still scarce. Here, we consider four LUIGs with N={3,4} and M={3,4}. We find that (a) choices made by a majority of subjects over 50 rounds of a LUIG were not significantly different from that in the symmetric mixed-strategy Nash equilibrium (MSE) of the LUIG; however, (b) those subjects who behaved significantly differently from what the MSE predicts won the game more frequently than those who behaved similarly to what the MSE predicts.

Suggested Citation

  • Takashi Yamada & Nobuyuki Hanaki, 2016. "An Experiment on Lowest Unique Integer Games," Post-Print halshs-01204814, HAL.
    • Handle: RePEc:hal:journl:halshs-01204814
    DOI: 10.1016/j.physa.2016.06.108
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-01204814v2
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    Keywords

    Laboratory Experiment; Lowest Unique Integer Game;

    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

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