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We use machine learning to uncover regularities in the initial play of matrix games. We first train a prediction algorithm on data from past experiments. Examining the games where our algorithm predicts correctly, but existing economic models don't, leads us to add a parameter to the best...
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Nash equilibrium takes optimization as a primitive, but suboptimal behavior can persist in simple stochastic decision problems. This has motivated the development of other equilibrium concepts such as cursed equilibrium and behavioral equilibrium. We experimentally study a simple adverse...
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We let participants indicate their intended action in a repeated game experiment where actions are implemented with errors. Even though communication is cheap talk, we find that the majority of messages were honest (although the majority of participants lied at least occasionally). As a result,...
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