CaltechAUTHORS
  A Caltech Library Service

Vertigo: Comparing Structural Models of Imperfect Behavior in Experimental Games

El-Gamal, Mahmoud and Palfrey, Thomas R. (1995) Vertigo: Comparing Structural Models of Imperfect Behavior in Experimental Games. Games and Economic Behavior, 8 (2). pp. 322-348. ISSN 0899-8256. https://resolver.caltech.edu/CaltechAUTHORS:20160303-154112586

Full text is not posted in this repository. Consult Related URLs below.

Use this Persistent URL to link to this item: https://resolver.caltech.edu/CaltechAUTHORS:20160303-154112586

Abstract

We introduce the game of Vertigo to study learning in experimental games with one-sided incomplete information. Our models allow players to make errors when choosing their actions. We compare six models where the players are modeled as sophisticated (taking errors in action into account when constructing strategies) or unsophisticated on one dimension, and employ Bayes' rule, a faster updating rule, or no updating at all on the second. Using a fully Bayesian structural econometric approach, we find that unsophisticated models perform better than sophisticated models, and models with no (or slower) updating perform better than models with faster updating.


Item Type:Article
Related URLs:
URLURL TypeDescription
http://dx.doi.org/10.1016/S0899-8256(05)80004-1DOIArticle
http://www.sciencedirect.com/science/article/pii/S0899825605800041PublisherArticle
http://resolver.caltech.edu/CaltechAUTHORS:20171108-144316123AuthorDiscussion Paper
ORCID:
AuthorORCID
Palfrey, Thomas R.0000-0003-0769-8109
Additional Information: © 1995 Academic Press. Received July 9, 1992. We acknowledge the financial support from NSF grants SES9011828 and SBR-9223701 to the California Institute of Technology and from the JPL-Caltech Supercomputing project. We have benefited from many discussions with Richard McKelvey. We thank an associate editor and an anonymous referee for useful suggestions. Marty Hahm wrote the computer programs for the experiment.
Group:Social Science Working Papers
Funders:
Funding AgencyGrant Number
NSFSES-9011828
NSFSBR-9223701
JPL-Caltech Supercomputing projectUNSPECIFIED
Other Numbering System:
Other Numbering System NameOther Numbering System ID
Social Science Working Paper800
Issue or Number:2
Classification Code:Journal of Economic Literature Classification Numbers: 026, 211, 215.
Record Number:CaltechAUTHORS:20160303-154112586
Persistent URL:https://resolver.caltech.edu/CaltechAUTHORS:20160303-154112586
Official Citation:Mahmoud A. El-Gamal, Thomas R. Palfrey, Vertigo: Comparing structural models of imperfect behavior in experimental games, Games and Economic Behavior, Volume 8, Issue 2, 1995, Pages 322-348, ISSN 0899-8256, http://dx.doi.org/10.1016/S0899-8256(05)80004-1. (http://www.sciencedirect.com/science/article/pii/S0899825605800041)
Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:65054
Collection:CaltechAUTHORS
Deposited By: Susan Vite
Deposited On:05 Mar 2016 19:02
Last Modified:22 Nov 2019 09:58

Repository Staff Only: item control page