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Approximate Truth of Perfectness - An Experimental Test -

Author

Listed:
  • Siegfried K. Berninghaus
  • Werner Güth

    (Max Planck Institute of Economics, Strategic Interaction Group)

  • King King Li

Abstract

"Approximate truth" refers to the principle that border cases should be analyzed by solving generic cases and solving border cases as limits of generic ones (Brennan et al., 2008). Our study experimentally explores whether this conceptual principle is also behaviorally appealing. To do so, we focus on perfectness (Selten, 1975) and use his example game with (no) multiplicity of (perfect) equilibria. Distinguishing three uniform perturbation levels, we check for monotonicity (all players react monotonically to the perturbation level) and then explore the behavioral relevance of "approximate truth."

Suggested Citation

  • Siegfried K. Berninghaus & Werner Güth & King King Li, 2012. "Approximate Truth of Perfectness - An Experimental Test -," Jena Economics Research Papers 2012-040, Friedrich-Schiller-University Jena.
    • Handle: RePEc:jrp:jrpwrp:2012-040
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    File URL: https://oweb.b67.uni-jena.de/Papers/jerp2012/wp_2012_040.pdf
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    Keywords

    experimental games; trembling hand perfectness; perturbed strategies;
    All these keywords.

    JEL classification:

    • C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior

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