Drift and Equilibrium Selection with Human and Computer Players
Economics Bulletin, 2008, 3, 19, 1-7.
CAMINATI, Mauro, INNOCENTI, Alessandro, RICCIUTI, Roberto, Drift and Equilibrium Selection with Human and Computer Players, Economics Bulletin, 2008, 3, 19, 1-7. - http://hdl.handle.net/1814/9625
Retrieved from Cadmus, EUI Research Repository
The theory of drift (Binmore and Samuelson 1999) concerns equilibrium selection in which second-order disturbances may have first-order effects in the emergence of one equilibrium over the other. We provided experimental evidence with human players supporting the model in Caminati, Innocenti and Ricciuti (2006). In this paper we test it with conditioning by computer players. When computers are removed and humans are matched against each other, the comparative static properties of the model are confirmed.
Cadmus permanent link: http://hdl.handle.net/1814/9625
Files associated with this item
There are no files associated with this item.