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A Correction and Re-Examination of "Stationary Concepts for Experimental 2 x 2 Games"

Brunner, Christoph and Camerer, Colin F. and Goeree, Jacob K. (2009) A Correction and Re-Examination of "Stationary Concepts for Experimental 2 x 2 Games". Working paper series (Institute for Empirical Research in Economics), 437. Institute for Empirical Research in Economics , Zurich. https://resolver.caltech.edu/CaltechAUTHORS:20191018-104338444

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Abstract

Reinhard Selten and Thorsten Chmura (2008) recently reported laboratory results for completely mixed 2 x 2 games used to compare Nash equilibrium with four other stationary concepts: quantal response equilibrium, action-sampling equilibrium, payoff-sampling equilibrium, and impulse balance equilibrium. We reanalyze their data, correct some errors, and find that Nash clearly fits worst while the four other concepts perform about equally well. We also report new analysis of other previous experiments that illustrate the importance of the loss aversion hardwired into impulse balance equilibrium: when the other non-Nash concepts are augmented with loss aversion, they outperform impulse balance equilibrium.


Item Type:Report or Paper (Working Paper)
Related URLs:
URLURL TypeDescription
https://doi.org/10.5167/uzh-51889DOIDiscussion Paper
https://resolver.caltech.edu/CaltechAUTHORS:20191018-103637110Related ItemOriginal article
ORCID:
AuthorORCID
Camerer, Colin F.0000-0003-4049-1871
Goeree, Jacob K.0000-0001-9876-3425
Additional Information:We would like to thank participants at the Economic Science Association meetings in Tucson (November, 2008) for valuable feedback. We gratefully acknowledge financial support from the National Science Foundation (SES 0551014), the Gordon and Betty Moore Foundation, and the European Research Council (ERC Advanced grant, ESEI-249433).
Funders:
Funding AgencyGrant Number
NSFSES 0551014
Gordon and Betty Moore FoundationUNSPECIFIED
European Research Council (ERC)ESEI-249433
Subject Keywords:stationary concepts, quantal response, action-sampling, payoff-sampling, impulse balance
Series Name:Working paper series (Institute for Empirical Research in Economics)
Issue or Number:437
Classification Code:JEL: C70, C91
Record Number:CaltechAUTHORS:20191018-104338444
Persistent URL:https://resolver.caltech.edu/CaltechAUTHORS:20191018-104338444
Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:99363
Collection:CaltechAUTHORS
Deposited By: Katherine Johnson
Deposited On:18 Oct 2019 18:04
Last Modified:18 Oct 2019 18:04

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