We explore the effects on strategic behavior of alternative representations of a centipede game that differ in terms of complexity. In a laboratory experiment, we manipulate the way in which payoffs are presented to subjects in two different ways. In both cases, information is made less accessible relative to the standard representation of the game. Results show that these manipulations shift the distribution of take nodes further away from the equilibrium prediction. The evidence is consistent with the view that failures of game-form recognition and the resulting limits to strategic reasoning are crucial for explaining non-equilibrium behavior in the centipede game.

Crosetto, P., Mantovani, M. (2018). Representation effects in the centipede game. PLOS ONE, 13(10) [10.1371/journal.pone.0204422].

Representation effects in the centipede game

Mantovani, Marco
2018

Abstract

We explore the effects on strategic behavior of alternative representations of a centipede game that differ in terms of complexity. In a laboratory experiment, we manipulate the way in which payoffs are presented to subjects in two different ways. In both cases, information is made less accessible relative to the standard representation of the game. Results show that these manipulations shift the distribution of take nodes further away from the equilibrium prediction. The evidence is consistent with the view that failures of game-form recognition and the resulting limits to strategic reasoning are crucial for explaining non-equilibrium behavior in the centipede game.
Articolo in rivista - Articolo scientifico
Game Theory; laboratory Experiment; Centipede game
English
2018
13
10
e0204422
partially_open
Crosetto, P., Mantovani, M. (2018). Representation effects in the centipede game. PLOS ONE, 13(10) [10.1371/journal.pone.0204422].
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/10281/228414
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