Generalized impulse balance: an experimental test for a class of 3 X 3 games

Chmura, T ORCID: https://orcid.org/0000-0001-7476-2030, Goerg, SJ and Selten, R, 2014. Generalized impulse balance: an experimental test for a class of 3 X 3 games. Review of Behavioral Economics, 1 (1-2), pp. 27-53. ISSN 2326-6198

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Abstract

In this paper, we introduce a generalized version of impulse balance equilibrium. The stationary concept is applied to 3 × 3 games based on the Bailiff and Poacher Game (Selten, 1991) and its predictive success is experimentally tested against the one of Nash equilibrium. Experiments with 26 different games were conducted; 12 games with completely mixed Nash equilibria and 14 games with partially mixed Nash equilibria. In all the games, generalized impulse balance yields predictions that are closer to the data than the ones of Nash equilibrium. Overall, generalized impulse balance has a significantly higher predictive success than Nash equilibrium.

Item Type:	Journal article
Publication Title:	Review of Behavioral Economics
Creators:	Chmura, T., Goerg, S.J. and Selten, R.
Publisher:	now publishers
Date:	15 January 2014
Volume:	1
Number:	1-2
ISSN:	2326-6198
Identifiers:	Number Type 10.1561/105.00000002 DOI
Divisions:	Schools > Nottingham Business School
Record created by:	Jonathan Gallacher
Date Added:	25 Apr 2018 15:55
Last Modified:	25 Apr 2018 15:55
URI:	https://irep.ntu.ac.uk/id/eprint/33331

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