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Equilibrium PLay and Best Response to (Stated) Beliefs in Constant Sum Games

Author

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  • Pedro Rey Biel

    (University College London)

Abstract

In a laboratory experiment, subjects played ten two-person 3x3 constant sum games and stated beliefs about the frequencies of play by their opponents. Contrary to previous experimental evidence, game-theoretical predictions work well: 80% of actions coincided with Nash equilibrium, subjects were good at predicting the action which was played with highest frequency and 73% of actions taken were best responses to stated beliefs. Complexity, measured by the necessary number of rounds of iterated deletion of dominated strategies to reach the equilibrium, did not affect behavior, although whether games were dominance solvable had an effect. We discuss possible reasons why results differ when the games and the experimental procedures are changed.

Suggested Citation

  • Pedro Rey Biel, 2005. "Equilibrium PLay and Best Response to (Stated) Beliefs in Constant Sum Games," Experimental 0506003, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwpex:0506003
    Note: Type of Document - pdf; pages: 50
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    File URL: https://econwpa.ub.uni-muenchen.de/econ-wp/exp/papers/0506/0506003.pdf
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    Cited by:

    1. David Danz & Dietmar Fehr & Dorothea Kübler, 2012. "Information and beliefs in a repeated normal-form game," Experimental Economics, Springer;Economic Science Association, vol. 15(4), pages 622-640, December.
    2. ATTANASI Giuseppe & NAGEL Rosemarie, 2008. "A Survey of Psychological Games: Theoretical Findings and Experimental Evidence," LERNA Working Papers 08.07.251, LERNA, University of Toulouse.
    3. Spiliopoulos, Leonidas, 2009. "Neural networks as a learning paradigm for general normal form games," MPRA Paper 16765, University Library of Munich, Germany.
    4. Gallice, Andrea, 2007. "Best Responding to What? A Behavioral Approach to One Shot Play in 2x2 Games," Discussion Papers in Economics 1365, University of Munich, Department of Economics.
    5. Andrea Gallice, 2006. "Predicting one Shot Play in 2x2 Games Using Beliefs Based on Minimax Regret," Working Papers 2006.31, Fondazione Eni Enrico Mattei.
    6. repec:hum:wpaper:sfb649dp2008-026 is not listed on IDEAS

    More about this item

    Keywords

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    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
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

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