Modeling and Testing for Heterogeneity in Observed Strategic Behavior
نویسندگان
چکیده
Experimental data have consistently shown diversity in beliefs as well as in actions among experimental subjects. This paper presents and compares alternative behavioral econometric models for the characterization of player heterogeneity, both between sub-populations of players and within subpopulations. In particular, two econometric models of diversity within sub-populations of players are investigated: one using a model of computational errors and the other allowing for diversity in prior beliefs around a modal prior for the sub-population. JEL classification: C12; C14; C15; C51; C52; C72; C91
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