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Does exposure to alternative decision rules change gaze patterns and behavioral strategies in games?

Author

Listed:
  • Joshua Zonca

    (University of Trento)

  • Giorgio Coricelli

    (University of Trento
    University of Southern California)

  • Luca Polonio

    (University of Minnesota)

Abstract

We run an eye-tracking experiment to investigate whether players change their gaze patterns and choices after they experience alternative models of choice in one-shot games. In phase 1 and 3, participants play 2 × 2 matrix games with a human counterpart; in phase 2, they apply specific decision rules while playing with a computer with known behavior. We classify participants in types based on their gaze patterns in phase 1 and explore attentional shifts in phase 3, after players were exposed to the alternative decision rules. Results show that less sophisticated players, who focus mainly on their own payoffs, change their gaze patterns towards the evaluation of others’ incentives in phase 3. This attentional shift predicts an increase in equilibrium responses in relevant classes of games. Conversely, cooperative players do not change their visual analysis. Our results shed new light on theories of bounded rationality and on theories of social preferences.

Suggested Citation

  • Joshua Zonca & Giorgio Coricelli & Luca Polonio, 2019. "Does exposure to alternative decision rules change gaze patterns and behavioral strategies in games?," Journal of the Economic Science Association, Springer;Economic Science Association, vol. 5(1), pages 14-25, August.
    • Handle: RePEc:spr:jesaex:v:5:y:2019:i:1:d:10.1007_s40881-019-00066-0
    DOI: 10.1007/s40881-019-00066-0
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    Cited by:

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    6. David J. Cooper & Ian Krajbich & Charles N. Noussair, 2019. "Choice-Process Data in Experimental Economics," Journal of the Economic Science Association, Springer;Economic Science Association, vol. 5(1), pages 1-13, August.

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    More about this item

    Keywords

    Game theory; Eye-tracking; Bounded rationality; Strategic sophistication; Social preferences;
    All these keywords.

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations

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