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An error rate analysis of experimental data testing Nash refinements

Harless, David W. and Camerer, Colin F. (1995) An error rate analysis of experimental data testing Nash refinements. European Economic Review, 39 (3-4). pp. 649-660. ISSN 0014-2921. http://resolver.caltech.edu/CaltechAUTHORS:20110211-105830700

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Abstract

Error rate analysis applied to experimental data testing choice theories proves useful because it uses the entire distribution of observations - over predicted and unpredicted outcomes - to test theories. In this paper we apply error rate analysis to experimental data testing ash refinements. Evaluating theories using the proportion of consistent responses ignores systematic variation over inconsistent outcomes; a scale of inconsistency is necessary to evaluate refinements as some inconsistent observations are more supportive of a refinement than others. Previous conclusions about the accuracy of refinements reached using the proportion of consistent responses are reversed by the error rate analysis.


Item Type:Article
Related URLs:
URLURL TypeDescription
http://dx.doi.org/10.1016/0014-2921(94)00072-8 DOIUNSPECIFIED
http://www.sciencedirect.com/science/article/B6V64-3YRSMF4-1R/2/625ea6abe7affa77e4ce32d27298a65aPublisherUNSPECIFIED
Additional Information:© 1995 Elsevier Science B.V. Available online 7 March 2000.
Subject Keywords:Experiments; Game theory; Sequential refinement; Intuitive refinement
Classification Code:J EL classification: C72, C92
Record Number:CaltechAUTHORS:20110211-105830700
Persistent URL:http://resolver.caltech.edu/CaltechAUTHORS:20110211-105830700
Official Citation:David W. Harless, Colin F. Camerer, An error rate analysis of experimental data testing Nash refinements, European Economic Review, Volume 39, Issues 3-4, Papers and Proceedings of the Ninth Annual Congress European Economic Association, April 1995, Pages 649-660, ISSN 0014-2921, DOI: 10.1016/0014-2921(94)00072-8. (http://www.sciencedirect.com/science/article/B6V64-3YRSMF4-1R/2/625ea6abe7affa77e4ce32d27298a65a)
Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:22135
Collection:CaltechAUTHORS
Deposited By: Tony Diaz
Deposited On:20 Feb 2011 01:02
Last Modified:20 Feb 2011 01:02

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