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Evidence from studies in international relations, the politics of reform, collective action and price competition suggests that economic agents in social dilemma situations cooperate more to avoid losses than in the pursuit of gains. To test whether the prospect of losses can induce cooperation,...
Persistent link: https://www.econbiz.de/10011438253
present study investigated whether strategic decision-making, as measured by the beauty contest game, is associated with … positively related to successful strategic decision-making. Furthermore, results showed a curvilinear relationship between steps …
Persistent link: https://www.econbiz.de/10011606710
. It involves 763 students at the Poznan University of Economics and Management. The collective decision chooses one out of … the decision using the mind game and psychological scales of short-run affective state. We find strong support for outcome … favorability for both measures: Subjects whose preferences are not aligned with the collective decision cheat more in the mind game …
Persistent link: https://www.econbiz.de/10014530724
Bracketing is a mental procedure about how people deal with multiple tasks. If a decision maker handles all the tasks …
Persistent link: https://www.econbiz.de/10009518332
methodologies for understanding decision-making under pressure. In the non-transitive game rock, paper, scissors (RPS), the only … behavior is thought to be outside bounded rationality and so decision-making can become deterministic, predictable, and … cognition literatures, and provides a taxonomy of RPS strategy. RPS strategies are discussed in terms of (a) whether the …
Persistent link: https://www.econbiz.de/10012062319
Response times are a simple low-cost indicator of the process of reasoning in strategic games (Rubinstein, 2007; Rubinstein, 2016). We leverage the dynamic nature of response-time data from repeated strategic interactions to measure the strategic complexity of a situation by how long people think on...
Persistent link: https://www.econbiz.de/10011607565
difficulty and optimality of withdrawal decision. We hypothesize that a) the more difficult the decision, the longer the response …
Persistent link: https://www.econbiz.de/10012011103
Many papers have reported behavioral biases in belief formation that come on top of standard game-theoretic reasoning. We show that the processes involved depend on the way participants reason about their beliefs. When they think about what everybody else or another "unspeci fied" individual is...
Persistent link: https://www.econbiz.de/10012308290
We explore the influence of cognitive ability and judgment on strategic behavior in the beauty contest game (where the Nash equilibrium action is zero). Using the level-k model of bounded rationality, cognitive ability and judgment both predict higher level strategic thinking. However,...
Persistent link: https://www.econbiz.de/10014584425
Response times are a simple low-cost indicator of the process of reasoning in strategic games. In this paper, we leverage the dynamic nature of response-time data from repeated strategic interactions to measure the strategic complexity of a situation by how long people think on average when they...
Persistent link: https://www.econbiz.de/10013191643