To Spin or Not to Spin? Natural and Laboratory Experiments from "The Price is Right"
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- McKelvey Richard D. & Palfrey Thomas R., 1995.
"Quantal Response Equilibria for Normal Form Games,"
Games and Economic Behavior, Elsevier, vol. 10(1), pages 6-38, July.
- McKelvey, Richard D. & Palfrey, Thomas R., 1994. "Quantal Response Equilibria For Normal Form Games," Working Papers 883, California Institute of Technology, Division of the Humanities and Social Sciences.
- R. McKelvey & T. Palfrey, 2010. "Quantal Response Equilibria for Normal Form Games," Levine's Working Paper Archive 510, David K. Levine.
- Healy, Paul & Noussair, Charles, 2004.
"Bidding behavior in the price is right game: an experimental study,"
Journal of Economic Behavior & Organization, Elsevier, vol. 54(2), pages 231-247, June.
- Healy, P. & Noussair, C., 2000. "Bidding Behavior in the Price is Right Game: an Experimental Study," Purdue University Economics Working Papers 1132, Purdue University, Department of Economics.
- Rosenthal, Robert W, 1989. "A Bounded-Rationality Approach to the Study of Noncooperative Games," International Journal of Game Theory, Springer;Game Theory Society, vol. 18(3), pages 273-291.
- Smith, Vernon L & Walker, James M, 1993. "Monetary Rewards and Decision Cost in Experimental Economics," Economic Inquiry, Western Economic Association International, vol. 31(2), pages 245-261, April.
- Richard Mckelvey & Thomas Palfrey, 1998.
"Quantal Response Equilibria for Extensive Form Games,"
Experimental Economics, Springer;Economic Science Association, vol. 1(1), pages 9-41, June.
- McKelvey, Richard D. & Palfrey, Thomas R., 1995. "Quantal Response Equilibria for Extensive Form Games," Working Papers 947, California Institute of Technology, Division of the Humanities and Social Sciences.
- Robert Gertner, 1993. "Game Shows and Economic Behavior: Risk-Taking on "Card Sharks"," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 108(2), pages 507-521.
- Bennett, Randall W. & Hickman, Kent A., 1993. "Rationality and the 'price is right'," Journal of Economic Behavior & Organization, Elsevier, vol. 21(1), pages 99-105, May.
- Colin F. Camerer & Richard H. Thaler, 1995. "Anomalies: Ultimatums, Dictators and Manners," Journal of Economic Perspectives, American Economic Association, vol. 9(2), pages 209-219, Spring.
- Sonnemans, Joep, 1998. "Strategies of search," Journal of Economic Behavior & Organization, Elsevier, vol. 35(3), pages 309-332, April.
- Berk, Jonathan B & Hughson, Eric & Vandezande, Kirk, 1996. "The Price Is Right, but Are the Bids? An Investigation of Rational Decision Theory," American Economic Review, American Economic Association, vol. 86(4), pages 954-970, September.
- Richard D. Mckelvey & Thomas R. Palfrey, 1996.
"A Statistical Theory Of Equilibrium In Games,"
The Japanese Economic Review, Japanese Economic Association, vol. 47(2), pages 186-209, June.
- McKelvey, Richard D. & Palfrey, Thomas R., "undated". "A Statistical Theory of Equilibrium in Games," Working Papers 955, California Institute of Technology, Division of the Humanities and Social Sciences.
- Ritov, Ilana & Baron, Jonathan, 1995. "Outcome Knowledge, Regret, and Omission Bias," Organizational Behavior and Human Decision Processes, Elsevier, vol. 64(2), pages 119-127, November.
- Cox, James C & Oaxaca, Ronald L, 1992. "Direct Tests of the Reservation Wage Property," Economic Journal, Royal Economic Society, vol. 102(415), pages 1423-1432, November.
- Metrick, Andrew, 1995. "A Natural Experiment in "Jeopardy!"," American Economic Review, American Economic Association, vol. 85(1), pages 240-253, March.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Nicolas de Roos & Yianis Sarafidis, 2010. "Decision making under risk in Deal or No Deal," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 25(6), pages 987-1027.
- Glenn W. Harrison & John A. List, 2004.
"Field Experiments,"
Journal of Economic Literature, American Economic Association, vol. 42(4), pages 1009-1055, December.
- Glenn Harrison & John List, 2004. "Field experiments," Artefactual Field Experiments 00058, The Field Experiments Website.
- John List & David Reiley, 2008. "Field experiments," Artefactual Field Experiments 00091, The Field Experiments Website.
- Ahmad Barirani & Randolph Sloof & Mirjam van Praag, 2017.
"The Origins and Extent of Entrepreneurial Action-Orientedness: An Experimental Study,"
Tinbergen Institute Discussion Papers
17-006/VII, Tinbergen Institute.
- Praag, Mirjam van & Sloof, Randolph & Barirani, Ahmad, 2017. "The Origins and Extent of Entrepreneurial Action-Orientedness: An Experimental Study," CEPR Discussion Papers 11771, C.E.P.R. Discussion Papers.
- Barirani, Ahmad & Sloof, Randolph & van Praag, Mirjam C., 2017. "The Origins and Extent of Entrepreneurial Action-Orientedness: An Experimental Study," IZA Discussion Papers 10498, Institute of Labor Economics (IZA).
- Fiore, Annamaria, 2009. "Experimental Economics: Some Methodological Notes," MPRA Paper 12498, University Library of Munich, Germany.
- Carlin, Bruce I. & Robinson, David T., 2009.
"Fear and loathing in Las Vegas: Evidence from blackjack tables,"
Judgment and Decision Making, Cambridge University Press, vol. 4(5), pages 385-396, August.
- Bruce Ian Carlin & David T. Robinson, 2009. "Fear and Loathing in Las Vegas: Evidence from Blackjack Tables," NBER Working Papers 14955, National Bureau of Economic Research, Inc.
- Kate Antonovics & Peter Arcidiacono & Randall Walsh, 2005.
"Games and Discrimination: Lessons From The Weakest Link,"
Journal of Human Resources, University of Wisconsin Press, vol. 40(4), pages 918-947.
- Antonovics, Kate & Arcidiacono, Peter & Walsh, Randall, 2003. "Games and Discrimination: Lessons From the Weakest Link," University of California at San Diego, Economics Working Paper Series qt3871w41j, Department of Economics, UC San Diego.
- Gee, C., 2007. "Risky Choice and Type-Uncertainty in "Deal or No Deal?"," Cambridge Working Papers in Economics 0758, Faculty of Economics, University of Cambridge.
- Uyanga Turmunkh & Martijn J. van den Assem & Dennie van Dolder, 2019.
"Malleable Lies: Communication and Cooperation in a High Stakes TV Game Show,"
Management Science, INFORMS, vol. 65(10), pages 4795-4812, October.
- Uyanga Turmunkh & Martijn van den Assem & Dennie van Dolder, 2019. "Malleable Lies: Communication and Cooperation in a High Stakes TV Game Show," Post-Print hal-02110662, HAL.
- Buser, Thomas & van den Assem, Martijn J. & van Dolder, Dennie, 2023.
"Gender and willingness to compete for high stakes,"
Journal of Economic Behavior & Organization, Elsevier, vol. 206(C), pages 350-370.
- Dennie van Dolder & Martijn van Assem & Thomas Buser, 2020. "Gender and Willingness to Compete for High Stakes," Tinbergen Institute Discussion Papers 20-011/I, Tinbergen Institute.
- Philippe Février & Laurent Linnemer, 2002.
"Strengths of the "Weakest Link"?,"
Working Papers
2002-24, Center for Research in Economics and Statistics.
- Philippe Février & ) Laurent Linnemer & ), 2002. "Strengths of the Weakest-Link," Experimental 0210002, University Library of Munich, Germany.
- Fevrier, Philippe & Linnemer, Laurent, 2006. "Equilibrium selection: Payoff or risk dominance?: The case of the "weakest link"," Journal of Economic Behavior & Organization, Elsevier, vol. 60(2), pages 164-181, June.
- Gabriella Sjögren Lindquist & Jenny Säve-Söderbergh, 2012.
"Securing victory or not? Surrendering optimal play when facing simple calculations -- a natural experiment from the Swedish and US Jeopardy,"
Applied Economics, Taylor & Francis Journals, vol. 44(6), pages 777-783, February.
- Jenny Charlotta Säve-Söderbergh & Gabriella Sjögren Lindquist, 2011. "Securing Victory or Not? Surrendering Optimal Play when Facing Simple Calculations -A Natural Experiment from the Swedish and US Jeopardy," Post-Print hal-00675398, HAL.
- Sjögren Lindquist, Gabriella & Säve-Söderbergh, Jenny, 2006. "Testing the rationality assumption using a design difference in the TV game show 'Jeopardy'," Working Paper Series 9/2006, Stockholm University, Swedish Institute for Social Research.
- Luís Pacheco & Júlio Lobão & Sílvia Coelho, 2023. "Gender and Risk Aversion: Evidence from a Natural Experiment," Games, MDPI, vol. 14(3), pages 1-16, June.
- Paul Healy & John Ledyard & Charles Noussair & Harley Thronson & Peter Ulrich & Giulio Varsi, 2007.
"Contracting inside an organization: An experimental study,"
Experimental Economics, Springer;Economic Science Association, vol. 10(2), pages 143-167, June.
- Ledyard, J. & Noussair, C.N. & Thronson, H. & Ulrich, P. & Varsi, G. & Healy, P., 2007. "Contracting inside an organization : An experimental study," Other publications TiSEM 19e362a5-1e77-4bfe-8aa1-d, Tilburg University, School of Economics and Management.
- Bruce I. Carlin & David T. Robinson, 2009.
"Fear and loathing in Las Vegas: Evidence from blackjack tables,"
Judgment and Decision Making, Society for Judgment and Decision Making, vol. 4(5), pages 385-396, August.
- Bruce Ian Carlin & David T. Robinson, 2009. "Fear and Loathing in Las Vegas: Evidence from Blackjack Tables," NBER Working Papers 14955, National Bureau of Economic Research, Inc.
- repec:cup:judgdm:v:4:y:2009:i:5:p:385-396 is not listed on IDEAS
- Martijn J. van den Assem & Dennie van Dolder & Richard H. Thaler, 2012. "Split or Steal? Cooperative Behavior When the Stakes Are Large," Management Science, INFORMS, vol. 58(1), pages 2-20, January.
- John A. List, 2004.
"Young, Selfish and Male: Field evidence of social preferences,"
Economic Journal, Royal Economic Society, vol. 114(492), pages 121-149, January.
- John List, 2004. "Young, selfish, and male: Field evidence of social preferences," Natural Field Experiments 00298, The Field Experiments Website.
- Daniel K. N. Johnson & Tracy R. Gleason, 2009. "Who REALLY Wants to be a Millionaire? Gender Differences in Game Show Contestant Behavior Under Risk," Social Science Quarterly, Southwestern Social Science Association, vol. 90(2), pages 243-261, June.
- Pogrebna, Ganna, 2008. "Naive advice when half a million is at stake," Economics Letters, Elsevier, vol. 98(2), pages 148-154, February.
- Gonzalez, Luis J. & Castaneda, Marco & Scott, Frank, 2019. "Solving the simultaneous truel in The Weakest Link: Nash or revenge?," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 81(C), pages 56-72.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Sjögren Lindquist, Gabriella & Säve-Söderbergh, Jenny, 2006. "Testing the rationality assumption using a design difference in the TV game show 'Jeopardy'," Working Paper Series 9/2006, Stockholm University, Swedish Institute for Social Research.
- Gabriella Sjögren Lindquist & Jenny Säve-Söderbergh, 2012.
"Securing victory or not? Surrendering optimal play when facing simple calculations -- a natural experiment from the Swedish and US Jeopardy,"
Applied Economics, Taylor & Francis Journals, vol. 44(6), pages 777-783, February.
- Jenny Charlotta Säve-Söderbergh & Gabriella Sjögren Lindquist, 2011. "Securing Victory or Not? Surrendering Optimal Play when Facing Simple Calculations -A Natural Experiment from the Swedish and US Jeopardy," Post-Print hal-00675398, HAL.
- Nicolas de Roos & Yianis Sarafidis, 2010. "Decision making under risk in Deal or No Deal," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 25(6), pages 987-1027.
- Luís Pacheco & Júlio Lobão & Sílvia Coelho, 2023. "Gender and Risk Aversion: Evidence from a Natural Experiment," Games, MDPI, vol. 14(3), pages 1-16, June.
- Robert Brooks & Robert Faff & Daniel Mulino & Richard Scheelings, 2009. "Deal or No Deal, That is the Question: The Impact of Increasing Stakes and Framing Effects on Decision‐Making under Risk," International Review of Finance, International Review of Finance Ltd., vol. 9(1‐2), pages 27-50, March.
- Uyanga Turmunkh & Martijn J. van den Assem & Dennie van Dolder, 2019.
"Malleable Lies: Communication and Cooperation in a High Stakes TV Game Show,"
Management Science, INFORMS, vol. 65(10), pages 4795-4812, October.
- Uyanga Turmunkh & Martijn van den Assem & Dennie van Dolder, 2019. "Malleable Lies: Communication and Cooperation in a High Stakes TV Game Show," Post-Print hal-02110662, HAL.
- Carlin, Bruce I. & Robinson, David T., 2009.
"Fear and loathing in Las Vegas: Evidence from blackjack tables,"
Judgment and Decision Making, Cambridge University Press, vol. 4(5), pages 385-396, August.
- Bruce Ian Carlin & David T. Robinson, 2009. "Fear and Loathing in Las Vegas: Evidence from Blackjack Tables," NBER Working Papers 14955, National Bureau of Economic Research, Inc.
- Philippe Février & Laurent Linnemer, 2002.
"Strengths of the "Weakest Link"?,"
Working Papers
2002-24, Center for Research in Economics and Statistics.
- Philippe Février & ) Laurent Linnemer & ), 2002. "Strengths of the Weakest-Link," Experimental 0210002, University Library of Munich, Germany.
- Martijn J. van den Assem & Dennie van Dolder & Richard H. Thaler, 2012. "Split or Steal? Cooperative Behavior When the Stakes Are Large," Management Science, INFORMS, vol. 58(1), pages 2-20, January.
- Jacob Goeree & Charles Holt & Thomas Palfrey, 2005.
"Regular Quantal Response Equilibrium,"
Experimental Economics, Springer;Economic Science Association, vol. 8(4), pages 347-367, December.
- Goeree, Jacob K. & Holt, Charles A. & Palfrey, Thomas R., 2004. "Regular quantal response equilibrium," Working Papers 1203, California Institute of Technology, Division of the Humanities and Social Sciences.
- Goeree, Jacob & Holt, Charles & Palfrey, Thomas, 2005. "Regular Quantal Response Equilibrium," Working Papers 1219, California Institute of Technology, Division of the Humanities and Social Sciences.
- Costa-Gomes, Miguel & Zauner, Klaus G., 2001.
"Ultimatum Bargaining Behavior in Israel, Japan, Slovenia, and the United States: A Social Utility Analysis,"
Games and Economic Behavior, Elsevier, vol. 34(2), pages 238-269, February.
- Miguel Costa-Gomes & Klaus G. Zauner, "undated". "Ultimatum Bargaining Behavior in Israel, Japan, Slovenia and the United States: A Social Utility Analysis," Discussion Papers 00/37, Department of Economics, University of York.
- Gee, C., 2007. "Risky Choice and Type-Uncertainty in "Deal or No Deal?"," Cambridge Working Papers in Economics 0758, Faculty of Economics, University of Cambridge.
- Ganna Pogrebna & Pavlo Blavatskyy, 2009. "Coordination, focal points and voting in strategic situations: a natural experiment," IEW - Working Papers 403, Institute for Empirical Research in Economics - University of Zurich.
- McKelvey, Richard D. & Palfrey, Thomas R. & Weber, Roberto A., 2000.
"The effects of payoff magnitude and heterogeneity on behavior in 2 x 2 games with unique mixed strategy equilibria,"
Journal of Economic Behavior & Organization, Elsevier, vol. 42(4), pages 523-548, August.
- Palfrey, Thomas R. & McKelvey, Richard D., "undated". "The Effects of Payoff Magnitude and Heterogeneity on Behavior in 2X2 Games with Unique Mixed Strategy Equilibria," Working Papers 991, California Institute of Technology, Division of the Humanities and Social Sciences.
- Raghubir, Priya & Valenzuela, Ana, 2006. "Center-of-inattention: Position biases in decision-making," Organizational Behavior and Human Decision Processes, Elsevier, vol. 99(1), pages 66-80, January.
- repec:cup:judgdm:v:4:y:2009:i:5:p:385-396 is not listed on IDEAS
- Pavlo Blavatskyy & Ganna Pogrebna, 2006. "Loss Aversion? Not with Half-a-Million on the Table!," IEW - Working Papers 274, Institute for Empirical Research in Economics - University of Zurich.
- Breitmoser, Yves & Tan, Jonathan H.W., 2010. "Generosity in bargaining: Fair or fear?," MPRA Paper 27444, University Library of Munich, Germany.
- Bruce I. Carlin & David T. Robinson, 2009.
"Fear and loathing in Las Vegas: Evidence from blackjack tables,"
Judgment and Decision Making, Society for Judgment and Decision Making, vol. 4(5), pages 385-396, August.
- Bruce Ian Carlin & David T. Robinson, 2009. "Fear and Loathing in Las Vegas: Evidence from Blackjack Tables," NBER Working Papers 14955, National Bureau of Economic Research, Inc.
- Pogrebna, Ganna, 2008. "Naive advice when half a million is at stake," Economics Letters, Elsevier, vol. 98(2), pages 148-154, February.
- Gonzalez, Luis J. & Castaneda, Marco & Scott, Frank, 2019. "Solving the simultaneous truel in The Weakest Link: Nash or revenge?," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 81(C), pages 56-72.
Corrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ecj:econjl:v:112:y:2002:i:476:p:170-195. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley-Blackwell Digital Licensing or Christopher F. Baum (email available below). General contact details of provider: https://edirc.repec.org/data/resssea.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.