Feature-based choice and similarity perception in normal-form games: an experimental study (Q2351259): Difference between revisions
From MaRDI portal
Set profile property. |
Set OpenAlex properties. |
||
Property / full work available at URL | |||
Property / full work available at URL: https://doi.org/10.3390/g4040776 / rank | |||
Normal rank | |||
Property / OpenAlex ID | |||
Property / OpenAlex ID: W2134031527 / rank | |||
Normal rank |
Revision as of 00:19, 20 March 2024
scientific article
Language | Label | Description | Also known as |
---|---|---|---|
English | Feature-based choice and similarity perception in normal-form games: an experimental study |
scientific article |
Statements
Feature-based choice and similarity perception in normal-form games: an experimental study (English)
0 references
23 June 2015
0 references
Summary: We claim that agents confronting with new interactive situations apply behavioral heuristics that drastically reduce the problem complexity either by neglecting the other players' incentives, or by restricting attention to subsets of ``salient'' outcomes. We postulate that these heuristics are sensitive to the manipulation of those features that can be modified without altering the (Nash) equilibrium structure of the game. We call these features ``descriptive''. We test experimentally the effect of these descriptive features on both choice behavior and cross-game similarity perception. Analysis of individual choices confirms our hypotheses, and suggests that non-equilibrium choices may derive from simplified mental models of the game structure, rather than from heterogeneous beliefs or limited iterative thinking. In addition, subjects tend to behave similarly in games sharing similar descriptive features, regardless of their strategic structure.
0 references
cross-game similarity
0 references
categorization
0 references
focal point
0 references
behavioral heuristic
0 references
individual behavior
0 references
one-shot game
0 references
response time
0 references