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Payoff levels, loss avoidance, and equilibrium selection in the Stag Hunt: an experimental study
(University of AberdeenKyushu UniversitySangyo University, 2008)
Game theorists typically assume that changing a game’s payoff levels—by adding the same constant to, or subtracting it from, all payoffs—should not affect behavior. While this invariance is an implication of the theory ...
Correlated equilibria, good and bad: an experimental study
(University of Aberdeen, 2008)
We report results from an experiment that explores the empirical validity of correlated equilibrium, an important generalization of the Nash equilibrium concept. Specifically, we seek to understand the conditions under ...