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An experiment on subjective game valuations

Author

Listed:
  • María José Gil-Moltó

    (Dpt Economics, Loughborough University)

  • Vicente Orts

    (IEI, LEE and Economics Department, Universitat Jaume I)

  • Nikolaos Georgantzís

    (LEE/LINEEX and Economics Department, Universitat Jaume I)

  • Aurora García-Gallego

    (LEE/LINEEX and Economics Department, Universitat Jaume I)

Abstract

We report experimental results on a prisoners' dilemma implemented in a way which allows us to elicit incentive-compatible valuations of the game. We test the hypothesis that players'' valuations coincide with their Nash equilibrium earnings. Our results offer significantly less support for this hypothesis than for the prediction of Dominant Strategy (DS) play.

Suggested Citation

  • María José Gil-Moltó & Vicente Orts & Nikolaos Georgantzís & Aurora García-Gallego, 2006. "An experiment on subjective game valuations," Economics Bulletin, AccessEcon, vol. 3(10), pages 1-6.
    • Handle: RePEc:ebl:ecbull:eb-06c90002
    as

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    References listed on IDEAS

    as
    1. Kreps, David M & Wilson, Robert, 1982. "Sequential Equilibria," Econometrica, Econometric Society, vol. 50(4), pages 863-894, July.
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    More about this item

    JEL classification:

    • C9 - Mathematical and Quantitative Methods - - Design of Experiments
    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory

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