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Does seeing more deeply into a game increase one’s chances of winning?

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  • C. McKinney
  • John Huyck

Abstract

The substantively rational value of the games studied in this paper does not help predict subject performance in the experiment at all. An accurate model must account for the cognitive ability of the people playing the game. This paper investigates whether the variation in measured rationality bounds is correlated with the probability of winning when playing against another person in games that exceed both players’ estimated rationality bound. Does seeing deeper into a game matter when neither player can see to the end of the game? Subjects with higher measured bounds win 63 percent of the time and the larger the difference the more frequently they win. Copyright Economic Science Association 2006

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  • C. McKinney & John Huyck, 2006. "Does seeing more deeply into a game increase one’s chances of winning?," Experimental Economics, Springer;Economic Science Association, vol. 9(3), pages 297-303, September.
    • Handle: RePEc:kap:expeco:v:9:y:2006:i:3:p:297-303
    DOI: 10.1007/s10683-006-9129-x
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    References listed on IDEAS

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    1. Aumann, Robert J., 1996. "Reply to Binmore," Games and Economic Behavior, Elsevier, vol. 17(1), pages 138-146, November.
    2. Binmore, Ken & McCarthy, John & Ponti, Giovanni & Samuelson, Larry & Shaked, Avner, 2002. "A Backward Induction Experiment," Journal of Economic Theory, Elsevier, vol. 104(1), pages 48-88, May.
    3. Nicholas McKinney, C. Jr. & Van Huyck, John B., 2007. "Estimating bounded rationality and pricing performance uncertainty," Journal of Economic Behavior & Organization, Elsevier, vol. 62(4), pages 625-639, April.
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    1. repec:zbw:rwirep:0360 is not listed on IDEAS
    2. Brosig-Koch, Jeannette & Heinrich, Timo & Helbach, Christoph, 2015. "Exploring the capability to reason backwards: An experimental study with children, adolescents, and young adults," European Economic Review, Elsevier, vol. 74(C), pages 286-302.
    3. Jeannette Brosig-Koch & Timo Heinrich & Christoph Helbach, 2012. "Exploring the Capability to Backward Induct – An Experimental Study with Children and Young Adults," Ruhr Economic Papers 0360, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
    4. Brosig-Koch, Jeannette & Heinrich, Timo & Helbach, Christoph, 2012. "Exploring the Capability to Backward Induct – An Experimental Study with Children and Young Adults," Ruhr Economic Papers 360, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    5. Andreas Hefti & Steve Heinke & Frédéric Schneider, 2016. "Mental capabilities, trading styles, and asset market bubbles: theory and experiment," ECON - Working Papers 234, Department of Economics - University of Zurich.
    6. Subhasish Dugar & Haimanti Bhattacharya, 2008. "The Power of Reasoning: Experimental Evidence," Working Paper Series, Department of Economics, University of Utah 2008_20, University of Utah, Department of Economics.

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