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Some Strategic Aspects of Private Information: An Experimental Study

Author

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  • Andrés Salamanca

    (TSE-R - Toulouse School of Economics - UT Capitole - Université Toulouse Capitole - UT - Université de Toulouse - INRA - Institut National de la Recherche Agronomique - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique)

  • Olga Manrique Chaparro

    (UNAL - Universidad Nacional de Colombia [Bogotà])

Abstract

In this paper we experimentally analyze the use of private information in a class of zero-sum repeated games with incomplete information on one side and perfect monitoring. We analyze whether the information disclosure by the informed players, and its use by the uninformed players, matches the theoretical predictions. We consider two games that differ according to the amount of information that the informed player should optimally disclose: in the first game, the informed player should entirely conceal his information. In contrast, in the second game the informed player should fully disclose his information. We find that the flow of information is higher than predicted in the first game and lower than predicted in the second game. However, the use of information is strictly higher in the second game than in the first one. Uninformed subjects tend not to use the revealed information in the first game, and seem to misinterpret the revealed information in the second game.

Suggested Citation

  • Andrés Salamanca & Olga Manrique Chaparro, 2016. "Some Strategic Aspects of Private Information: An Experimental Study," Working Papers hal-01305213, HAL.
    • Handle: RePEc:hal:wpaper:hal-01305213
    Note: View the original document on HAL open archive server: https://hal.science/hal-01305213
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    References listed on IDEAS

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    1. Robert J. Aumann, 1995. "Repeated Games with Incomplete Information," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262011476, December.
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    Cited by:

    1. Wen, Yuanji, 2018. "Voluntary information acquisition in an asymmetric-Information game:comparing learning theories in the laboratory," Journal of Economic Behavior & Organization, Elsevier, vol. 150(C), pages 202-219.

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    Keywords

    Repeated games; incomplete information; experiments;
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