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来源类型Discussion paper
规范类型论文
来源IDDP12479
DP12479 Failure of the Becker-Degroot-Marschak Mechanism in Inexperienced Subjects: New Tests of the Game Form Misconception Hypothesis
Pascal Courty
发表日期2017-12-02
出版年2017
语种英语
摘要Substantial efforts have been devoted to understanding deviations from optimal behavior in games. Cason and Plott (2014, hereafter CP) propose that sub-optimal behavior may be explained by game form misconception (GFM), a failure of game form recognition, rather than by non-standard preferences or framing effects. Following CP's application of the GFM theory to the Becker-DeGroot-Marschak mechanism (Becker et al., 1964, hereafter BDM), this paper explores whether GFM can robustly explain bidding mistakes by inexperienced subjects. We derive two new tests of the GFM hypothesis based on comparing subject behavior in the misconceived task (BDM) and on the task it is misconceived for (a first price auction). While we do replicate Cason and Plot's original results, our additional tests are inconsistent with a first price misconception explaining observed deviations from optimal bidding in the BDM. At a minimum, additional forms of misconception are necessary to explain observed bidding behavior.
主题Industrial Organization
关键词Game form recognition Game form misconception Mistake Becker-degroot-marschak Preference elicitation
URLhttps://cepr.org/publications/dp12479
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/541290
推荐引用方式
GB/T 7714		 Pascal Courty. DP12479 Failure of the Becker-Degroot-Marschak Mechanism in Inexperienced Subjects: New Tests of the Game Form Misconception Hypothesis. 2017.
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