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Strategic Sophistication of Individuals and Teams in Experimental Normal-Form Games
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http://hdl.handle.net/2077/21888
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| File | Description | Size | Format | |
|---|---|---|---|---|
| gupea_2077_21888_1.pdf | 520Kb | Adobe PDF |  View/Open |
| Title: | Strategic Sophistication of Individuals and Teams in Experimental Normal-Form Games |
| Authors: | Sutter, Matthias Czermak, Simon Feri, Francesco |
| Issue Date: | 2010 |
| Publication type: | report |
| Series/Report no.: | Working Papers in Economics 430 |
| Keywords: | Strategic sophistication beliefs experiment team decision making individual decision making |
| Abstract: | We present an experiment on strategic thinking and behavior of individuals and teams in oneshot normal-form games. Besides making choices, decision makers have to state their firstand second-order beliefs. We find that teams play the Nash strategy significantly more often, and their choices are more often consistent by being a best reply to first order beliefs. We identify the complexity of a game and the payoffs in equilibrium as determining the likelihood of consistent behavior according ... more |
| ISSN: | 1403-2465 |
| URI: | http://hdl.handle.net/2077/21888 |
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