| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w15609 |
| 来源ID | Working Paper 15609 |
| What Happens in the Field Stays in the Field: Exploring Whether Professionals Play Minimax in Laboratory Experiments | |
| Steven D. Levitt; John A. List; David H. Reiley, Jr. | |
| 发表日期 | 2009-12-23 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | The minimax argument represents game theory in its most elegant form: simple but with stark predictions. Although some of these predictions have been met with reasonable success in the field, experimental data have generally not provided results close to the theoretical predictions. In a striking study, Palacios-Huerta and Volij (2007) present evidence that potentially resolves this puzzle: both amateur and professional soccer players play nearly exact minimax strategies in laboratory experiments. In this paper, we establish important bounds on these results by examining the behavior of four distinct subject pools: college students, bridge professionals, world-class poker players, who have vast experience with high-stakes randomization in card games, and American professional soccer players. In contrast to Palacios-Huerta and Volij's results, we find little evidence that real-world experience transfers to the lab in these games--indeed, similar to previous experimental results, all four subject pools provide choices that are generally not close to minimax predictions. We use two additional pieces of evidence to explore why professionals do not perform well in the lab: (1) complementary experimental treatments that pit professionals against preprogrammed computers, and (2) post-experiment questionnaires. The most likely explanation is that these professionals are unable to transfer their skills at randomization from the familiar context of the field to the unfamiliar context of the lab. |
| 主题 | Microeconomics ; Game Theory ; Econometrics ; Experimental Design |
| URL | https://www.nber.org/papers/w15609 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/573285 |
| 推荐引用方式 GB/T 7714 | Steven D. Levitt,John A. List,David H. Reiley, Jr.. What Happens in the Field Stays in the Field: Exploring Whether Professionals Play Minimax in Laboratory Experiments. 2009. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w15609.pdf（84KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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