The two-person beauty contest
نویسندگان
چکیده
We introduce a two-person beauty contest game with a unique Nash equilibrium that is identical to the game with many players. However, iterative reasoning is unnecessary in the two-person game as choosing zero is a weakly dominant strategy. Despite this “easier” solution concept, we find that a large majority of players do not choose zero. This is the case even with a sophisticated subject pool. © 2007 Elsevier Inc. All rights reserved. JEL classification: C7; C9
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عنوان ژورنال:
- Games and Economic Behavior
دوره 62 شماره
صفحات -
تاریخ انتشار 2008