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Experimentally observed deviations of behavior from game theoretic predictions suggest that fairness does influence decision making. Fairness in the sense of equality has become an essential element of economic models aiming at explaining actual behavior (cf. Fehr and Schmidt, 1999; Bolton and...
Persistent link: https://www.econbiz.de/10011538681
Persistent link: https://www.econbiz.de/10009745622
We report an experiment that uses the strategy method (Selten 1967) to elicit subjects' general strategy for playing any 2-person 3x3-game with integer payoffs between 0 and 99. Each two subjects' strategies play 500000 games in each of the 5 tournaments. For games with pure strategy equilibria...
Persistent link: https://www.econbiz.de/10011539702
Persistent link: https://www.econbiz.de/10012168515
Experimentally observed deviations of behavior from game theoretic predictions suggest that fairness does influence decision making. Fairness in the sense of equality has become an essential element of economic models aiming at explaining actual behavior (cf. Fehr and Schmidt, 1999; Bolton and...
Persistent link: https://www.econbiz.de/10010317630
Does probation pay a double dividend? Society saves the cost of incarceration, and convicts preserve their liberty. But does probation also reduce the risk of recidivism? In a meta-study we show that the field evidence is inconclusive. Moreover it struggles with an identification problem: those...
Persistent link: https://www.econbiz.de/10010266976
Experimentally observed deviations of behavior from game theoretic predictions suggest that fairness does influence decision making. Fairness in the sense of equality has become an essential element of economic models aiming at explaining actual behavior (cf. Fehr and Schmidt, 1999; Bolton and...
Persistent link: https://www.econbiz.de/10004968456
Does probation pay a double dividend? Society saves the cost of incarceration, and convicts preserve their liberty. But does probation also reduce the risk of recidivism? In a meta-study we show that the field evidence is inconclusive. Moreover it struggles with an identification problem: those...
Persistent link: https://www.econbiz.de/10008567631
Persistent link: https://www.econbiz.de/10011091185
Using the strategy method (Selten 1967) we elicit subjects' strategies for playing any 2-person 3x3-game with integer payoffs between 0 and 99.In each of 5 tournaments, every strategy pair plays 500000 games.The frequency of pure strategy equilibrium play increases from 51% in the first to 74%...
Persistent link: https://www.econbiz.de/10011091650