Anomalous Behavior in a Traveler's Dilemma?¶
Capra. (1999). Anomalous Behavior in a Traveler's Dilemma?.
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1 citation across 1 artifact.
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Domain-specific¶
- Traveler's Dilemma
- In laboratory experiments by Capra, Goeree, Gomez, and Holt (1999), subjects routinely claimed values near $100 and earned near-maximum payoffs; the Nash equilibrium played almost never
This sourceThe experimental finding that subjects claim near the $100 ceiling and earn near-maximum payoffs while the $2 Nash equilibrium is almost never played. The comparative-statics result that claims fall smoothly as the bonus/penalty parameter rises, although the equilibrium prediction is $2 at every penalty level.
- In laboratory experiments by Capra, Goeree, Gomez, and Holt (1999), subjects routinely claimed values near $100 and earned near-maximum payoffs; the Nash equilibrium played almost never
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