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An eye-tracking study of feature-based choice in one-shot games

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Listed author(s):
  • Giovanna Devetag

    ()

  • Sibilla Di Guida

    ()

  • Luca Polonio

    ()

Abstract

We analyze subjects� eye movements while they make decisions in a series of one-shot games. The majority of them perform a partial and selective analysis of the payoff matrix, often ignoring the payoffs of the opponent and/or paying attention only to specific cells. Our results suggest that subjects apply boundedly rational decision heuristics that involve best responding to a simplification of the decision problem, obtained either by ignoring the other players� motivations or by considering them only for a subset of outcomes. Finally, we find a correlation between types of eye movements observed and choices in the games.

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File URL: http://www-ceel.economia.unitn.it/papers/papero13_01.pdf
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Paper provided by Cognitive and Experimental Economics Laboratory, Department of Economics, University of Trento, Italia in its series CEEL Working Papers with number 1301.

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Date of creation: 2013
Handle: RePEc:trn:utwpce:1301
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Keywords: one-shot games; eye-tracking; similarity; categorization; focal points; individual behavior; experimental economics; behavioral economics;

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Find related papers by JEL classification:
  • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
  • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
  • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
  • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

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