Ten little treasures of game theory and ten intuitive contradictions

American Economic Review

Volumn 91, Issue 5, 2001, Pages 1402-1422

  Goeree, Jacob K ^a,b   Holt, Charles A ^b  

^a UNIVERSITY OF VIRGINIA   (United States)

^b UNIVERSITY OF AMSTERDAM   (Netherlands)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0005542095     PISSN: 00028282     EISSN: None     Source Type: Journal    
DOI: 10.1257/aer.91.5.1402     Document Type: Article

References (74)

1. Anderson, Simon P.; Goeree, Jacob K. and Holt, Charles A. "Rent Seeking with Bounded Rationality: An Analysis of the All-Pay Auction." Journal of Political Economy, August 1998a, 106(4), pp. 828-53.
2. _. "A Theoretical Analysis of Altruism and Decision Error in Public Goods Games." Journal of Public Economics, November, 1998b, 70(2), pp. 297-323.
3. _. "The Logit Equilibrium: A Perspective on Intuitive Behavioral Anomalies." Southern Economic Journal, 2001a (forthcoming).
4. _. "Minimum-Effort Coordination Games: Stochastic Potential and Logit Equilibrium." Games and Economic Behavior, February 2001b, 34(2), pp. 177-99.
5. Basu, Kaushik. "The Traveler's Dilemma: Paradoxes of Rationality in Game Theory." American Economic Review, May 1994 (Papers and Proceedings), 84(2), pp. 391-95.
6. Beard, Randolph T. and Beil, Richard O. "Do People Rely on the Self-interested Maximization of Others: An Experimental Test." Management Science, February 1994, 40(2), pp. 252-62.
7. Bernheim, B. Douglas. "Rationalizable Strategic Behavior." Econometrica, July 1984, 52(4), pp. 1007-28.
8. Bolton, Gary E. "Bargaining and Dilemma Games: From Laboratory Data Towards Theoretical Synthesis." Experimental Economics, 1998, 7(3), pp. 257-81.
9. Bolton, Gary E and Ockenfels, Axel. "A Theory of Equity, Reciprocity, and Competition." American Economic Review, March 2000, 90(1), pp. 166-93.
10. Brandts, Jordi and Holt, Charles A. "An Experimental Test of Equilibrium Dominance in Signaling Games." American Economic Review, December 1992, 82(5), pp. 1350-65.
11. _. "Adjustment Patterns and Equilibrium Selection in Experimental Signaling Games." International Journal of Game Theory, 1993, 22(3), pp. 279-302.
12. _. "Naive Bayesian Learning and Adjustments to Equilibrium in Signaling Games." Working paper, University of Virginia, 1996.
13. Camerer, Colin and Ho, Teck-Hua. "Experience-Weighted Attraction Learning in Normal Form Games." Econometrica, July 1999, 67(4), pp. 827-74.
14. Capra, C. Monica. "Noisy Expectation Formation in One-Shot Games." Ph.D. dissertation, University of Virginia, 1998.
15. Capra, C. Monica; Goeree, Jacob K.; Gomez, Rosario and Holt, Charles A. "Anomalous Behavior in a Traveler's Dilemma?" American Economic Review, June 1999, 89(3), pp. 678-90.
16. _. "Learning and Noisy Equilibrium Behavior in an Experimental Study of Imperfect Price Competition." International Economic Review, 2002 (forthcoming).
17. Cho, In-Koo and Kreps, David M. "Signaling Games and Stable Equilibria." Quarterly Journal of Economics, May 1987, 102(2), pp. 179-221.
18. Cooper, David J.; Garvin, Susan and Kagel, John H. "Signaling and Adaptive Learning in an Entry Limit Pricing Game." Rand Journal of Economics, Winter 1997, 28(4), pp. 662-83.
19. Cooper, Russell; DeJong, Douglas V.; Forsythe, Robert and Ross, Thomas W. "Communication in Coordination Games." Quarterly Journal of Economics, May 1992, 107(2), pp. 739-71.
20. Costa-Gomes, Miguel; Crawford, Vincent P. and Broseta, Bruno. "Cognition and Behavior in Normal-Form Games: An Experimental Study." Econometrica, September 2001, 69, pp. 1193-235.
21. Costa-Gomes, Miguel and Zauner, Klaus G. "Ultimatum Bargaining Behavior in Israel, Japan, Slovenia, and the United States: A Social Utility Analysis." Games and Economic Behavior, February 2001, 34(2), pp. 238-69.
22. Crawford, Vincent P. "Adaptive Dynamics in Coordination Games." Econometrica, January 1995, 63(1), pp. 103-43.
23. Davis, Douglas D. and Holt, Charles A. Experimental economics. Princeton, NJ: Princeton University Press, 1993.
24. Eckel, Catherine and Wilson, Rick. "The Human Face of Game Theory: Trust and Reciprocity in Sequential Games." Working paper, Rice University, 1999.
25. Erev, Ido and Roth, Alvin E. "Predicting How People Play Games: Reinforcement Learning in Experimental Games with Unique, Mixed Strategy Equilibria." American Economic Review, September 1998, 88(4), pp. 848-81.
26. Fehr, Ernst and Schmidt, Klaus. "A Theory of Fairness, Competition, and Cooperation." Quarterly Journal of Economics, August 1999, 114(3), pp. 817-68.
27. Fudenberg, Drew and Levine, David K. The theory of learning in games. Cambridge, MA: MIT Press, 1998.
28. Fudenberg, Drew and Tirole, Jean. Game theory. Cambridge, MA: MIT Press, 1993.
29. Gibbons, Robert. "An Introduction to Applicable Game Theory." Journal of Economic Perspectives, Winter 1997, 11(1), pp. 127-49.
30. Goeree, Jacob K. and Holt, Charles A. "An Experimental Study of Costly Coordination." Working paper, University of Virginia, 1998.
31. _. "Stochastic Game Theory: For Playing Games, Not Just for Doing Theory." Proceedings of the National Academy of Sciences, September 1999, 96, pp. 10,564-67.
32. _. "Asymmetric Inequality Aversion and Noisy Behavior in Alternating-Offer Bargaining Games." European Economic Review, May 2000a, 44(4-6), pp. 1079-89.
33. _. "Models of Noisy Introspection." Working paper, University of Virginia, 2000b.
34. Goeree, Jacob K.; Holt, Charles A. and Palfrey, Thomas R. "Risk-Averse Behavior in Asymmetric Matching Pennies Games." Working paper, University of Virginia, 2000.
35. _. "Quantal Response Equilibrium and Overbidding in Private Value Auctions." Journal of Economic Theory, 2001 (forthcoming).
36. Guarnaschelli, Serena; McKelvey, Richard D. and Palfrey, Thomas R. "An Experimental Study of Jury Decision Making." American Political Science Review, 2001 (forthcoming).
37. Harrison, Glenn W. "Theory and Misbehavior of First-Price Auctions." American Economic Review, September 1989, 79(4), pp. 749-62.
38. Harsanyi, John C. and Selten, Reinhard. A general theory of equilibrium selection in games. Cambridge, MA: MIT Press, 1988.
39. Kahneman, Daniel; Knetsch, Jack L. and Thaler, Richard H. "The Endowment Effect, Loss Aversion, and Status Quo Bias: Anomalies." Journal of Economic Perspectives. Winter 1991, 5(1), pp. 193-206.
40. Kahneman, Daniel; Slovic, Paul and Tversky, Amos. Judgement under uncertainty: Heuristics and biases. Cambridge: Cambridge University Press, 1982.
41. Kreps, David M. "Nash Equilibrium," in John Eatwell, Murray Milgate, and Peter Newman, eds., The new Palgrave: Game theory. New York: Norton, 1995, pp. 176-77.
42. Kübler, Dorothea and Weizsäcker, Georg. "Limited Depth of Reasoning and Failure of Cascade Formation in the Laboratory." Working paper, Harvard University, 2000.
43. Luce, R. Duncan. Individual choice behavior. New York: Wiley, 1959.
44. Lucking-Reiley, David. "Using Field Experiments to Test the Equivalence Between Auction Formats: Magic on the Internet." American Economic Review, December 1999, 89(5), pp. 1063-80.
45. Mailath, George. "Do People Play Nash Equilibrium? Lessons from Evolutionary Game Theory." Journal of Economic Literature. September 1998, 36(3), pp. 1347-74.
46. McKelvey, Richard D. and Palfrey, Thomas R. "An Experimental Study of the Centipede Game." Econometrica, July 1992, 60(4), pp. 803-36.
47. _. "Quantal Response Equilibria for Normal Form Games." Games and Economic Behavior. July 1995, 10(1), pp. 6-38.
48. _. "Quantal Response Equilibria for Extensive Form Games." Experimental Economics, 1998, 1(1), pp. 9-41.
49. McKelvey, Richard D.; Palfrey, Thomas R. and Weber, Roberto A. "The Effects of Payoff Magnitude and Heterogeneity on Behavior in 2 X 2 Games with Unique Mixed Strategy Equilibria." Journal of Economic Behavior and Organization. August 2000, 42(4), pp. 523-48.
50. Mookherjee, Dilip and Sopher, Barry. "Learning and Decision Costs in Experimental Constant Sum Games." Games and Economic Behavior, April 1997, 19(1), pp. 97-132.
51. Nagel, Rosemarie. "Unraveling in Guessing Games: An Experimental Study." American Economic Review, December 1995, 85(5), pp. 1313-26.
52. Nasar, Sylvia. A beautiful mind. New York: Simon and Schuster, 1998.
53. Nash, John. "The Bargaining Problem." Econometrica, April 1950, 18(2), pp. 155-62.
54. Ochs, Jack. "Games with Unique Mixed Strategy Equilibria: An Experimental Study." Games and Economic Behavior, July 1995a, 10(1), pp. 202-17.
55. _. "Coordination Problems," in John H. Kagel and Alvin E. Roth, eds., Handbook of experimental economics. Princeton, NJ: Princeton University Press, 1995b, pp. 195-249.
56. Offerman, Theo. Beliefs and decision rules in public goods games: Theory and experiments. Dordrecht: Kluwer Academic Press, 1997.
57. Olcina, Gonzalo and Urbano, Amparo. "Introspection and Equilibrium Selection in 2 X 2 Matrix Games." International Journal of Game Theory, 1994, 23(3), pp. 183-206.
58. Pearce, David G. "Rationalizable Strategic Behavior and the Problem of Perfection." Econometrica, July 1984, 52(4), pp. 1029-50.
59. Rabin, Matthew. "Incorporating Fairness into Game Theory and Economics." American Economic Review, December 1993, 83(5), pp. 1281-302.
60. Reynolds, Stanley S. "Sequential Bargaining with Asymmetric Information: The Role of Quantal Response Equilibrium in Explaining Experimental Results." Working paper, University of Arizona, 1999.
61. Rosenthal, Robert W. "Games of Perfect Information, Predatory Pricing and the ChainStore Paradox." Journal of Economic Theory, August 1981, 25(1), pp. 92-100.
62. Roth, Alvin E. "Bargaining Experiments," in John H. Kagel and Alvin E. Roth, eds., Handbook of experimental economics. Princeton, NJ: Princeton University Press, 1995, pp. 253-348.
63. Rubinstein, Ariel. "Perfect Equilibrium in a Bargaining Model." Econometrica, January 1982, 50(1), pp. 97-109.
64. Schotter, Andrew and Narkov, Yaw. "Equilibria in Beliefs and Our Belief in Equilibrium: An Experimental Approach." Working paper, New York University, 1998.
65. Selten, Reinhard. "Re-examination of the Perfectness Concept for Equilibrium Points in Extensive Games." International Journal of Game Theory, 1975, 4, pp. 25-55.
66. _. "Anticipatory Learning in Two-Person Games," in Reinhard Selten, ed., Game equilibrium models I. Berlin: Springer-Verlag, 1991, pp. 98-154.
67. Selten, Reinhard and Buchta, Joachim. "Experimental Sealed Bid First Price Auctions with Directly Observed Bid Functions" in I. E. D. Budescu and R. Zwick, eds., Games and human behavior: Essays in honor of Amnon Rapoport. Hillside, NJ: Erlbaum Association, 1998.
68. Stahl, Dale O. and Wilson, Paul W. "On Players' Models of Other Players: Theory and Experimental Evidence." Games and Economic Behavior, July 1995, 10(1), pp. 218-54.
69. Straub, Paul G. "Risk Dominance and Coordination Failures in Static Games." Quarterly Review of Economics and Finance. Winter 1995, 35(4), pp. 339-63.
70. Tucker, Al W. "A Two-Person Dilemma." Mimeo, Stanford University, 1950. [Published under the heading "On Jargon: The Prisoner's Dilemma." UMAP Journal, 1980, 1, p. 101.]
71. Tucker, Al W. "A Two-Person Dilemma." Mimeo, Stanford University, 1950. [Published under the heading "On Jargon: The Prisoner's Dilemma." UMAP Journal, 1980, 1, p. 101.]
72. Van Huyck, John B.; Battalio, Raymond C. and Beil, Richard O. "Tacit Coordination Games, Strategic Uncertainty, and Coordination Failure." American Economic Review, March 1990, 80(1), pp. 234-48.
73. Vickrey, William. "Counterspeculation, Auctions, and Sealed Tenders." Journal of Finance, 1961, 16, pp. 8-37.
74. von Neumann, John and Morgenstern, Oscar. Theory of games and economic behavior. Princeton, NJ: Princeton University Press, 1944.