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Equilibrium Play and Best Reply to (Stated) Beliefs in Constant Sum Games

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  • Pedro Rey-Biel

    (Universidad Autónoma Barcelona)

Abstract

We report experimental results on one-shot two person 3x3 constant sum games played by non-economists without previous experience in the laboratory. Although strategically our games are very similar to previous experiments in which game theory predictions fail dramatically, 80% of actions taken in our experiment coincided with the unique Nash equilibrium in pure strategies and 73% of actions were best responses to elicited beliefs. We argue how social preferences, presentation effects and belief elicitation procedures may influence the way subjects play in simple but non trivial games and explain differences with previous work.

Suggested Citation

  • Pedro Rey-Biel, 2005. "Equilibrium Play and Best Reply to (Stated) Beliefs in Constant Sum Games," Experimental 0512003, University Library of Munich, Germany.
  • Handle: RePEc:wpa:wuwpex:0512003
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    More about this item

    Keywords

    Experiments Constant Sum Games Stated Beliefs;

    JEL classification:

    • C9 - Mathematical and Quantitative Methods - - Design of Experiments

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