Author : Matthew Embrey
Publisher :
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4.:/5 (13 download)
Book Synopsis Eliciting Strategies in Indefinitely Repeated Games of Strategic Substitutes and Complements by : Matthew Embrey
Download or read book Eliciting Strategies in Indefinitely Repeated Games of Strategic Substitutes and Complements written by Matthew Embrey and published by . This book was released on 2017 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: We introduce a novel method to elicit strategies in indefinitely repeated games and apply it to games of strategic substitutes and complements. We find that out of 256 possible unit recall machines (and 1024 full strategies) participants could use, only five machines are used more than 5 percent of the time. Those are “static Nash”, “myopic best response”, “Tit-for-Tat” and two “Nash reversion” strategies. We compare outcome data with “hot” treatments and find that the fact that we elicit strategies did not affect the path of play. We also discuss applications to IO literature and compare insights to previous literature on strategy elicitation mostly focused on the prisoner's dilemma.