Probability matching and strategic decision making

被引：2
|
作者：
Kim, Duk Gyoo [1 ]
Kim, Hee Chun [2 ]
机构：
[1] Sungkyunkwan Univ, Dept Econ, Seoul, South Korea
[2] Korea Informat Soc Dev Inst, Jincheon Gun, Chungcheongbuk, South Korea
来源：
JOURNAL OF BEHAVIORAL AND EXPERIMENTAL ECONOMICS | 2022年 / 98卷
关键词：
Level-k reasoning; Probability matching; Cognitive bound; Preference for randomization; STOCHASTIC CHOICE; BEHAVIOR; PREFERENCES; COGNITION; GAMES;
D O I：
10.1016/j.socec.2022.101850
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper examines a link between an individual's (possibly limited) strategic thinking in the 11-20 money request game and (possibly non-rational) decision-making patterns in the matching pennies games. Experimental evidence shows that subjects' strategic behavior, which used to be understood as a result of finite cognitive iterations, is closely related to their choice randomization patterns. Ignoring some individuals' choice randomization may bias the population variance of levels in cognitive iterations. Choice randomizers, which we call probability matchers, are non-rational in both the non-strategic and strategic settings, but their choice patterns are systematic-although inconsistent with rational decisions-and similar.
引用
收藏
页数：10
相关论文
共 50 条
  • [21] STRATEGIC INTERMODAL DECISION MAKING IN BRAZIL
    Goncalves, B.
    Costa, M. B.
    D'Agosto, M.
    PROCEEDINGS ICIL'2010: INTERNATIONAL CONFERENCE ON INDUSTRIAL LOGISTICS - LOGISTICS AND SUSTAINABILITY, 2010, : 263 - 271
  • [22] DECISION MAKING IN STRATEGIC BUSINESS MANAGEMENT
    Keropyan, Aras
    Maria Gil-Lafuente, Anna
    COMPUTATIONAL INTELLIGENCE IN BUSINESS AND ECONOMICS, 2010, 3 : 297 - 304
  • [23] Women entrepreneurs and strategic decision making
    Ndemo, Bitange
    Maina, Fides Wanjiku
    MANAGEMENT DECISION, 2007, 45 (01) : 118 - 130
  • [24] Impaired strategic decision making in schizophrenia
    Chey, J.
    Kim, H.
    Lee, D.
    Shin, Y. M.
    SCHIZOPHRENIA BULLETIN, 2007, 33 (02) : 514 - 514
  • [25] STRATEGIC DECISION-MAKING IN SHIPPING
    FRANKEL, EG
    MARINE POLICY, 1982, 6 (04) : 259 - 264
  • [26] Strategic decision making on complex systems
    Milano, Michela
    Lombardi, Michele
    CONSTRAINTS, 2014, 19 (02) : 174 - 185
  • [27] Stretching of memory in strategic decision making
    Alberto Bernacchia
    Xiao-Jing Wang
    BMC Neuroscience, 13 (Suppl 1)
  • [28] Neural Basis of Strategic Decision Making
    Lee, Daeyeol
    Seo, Hyojung
    TRENDS IN NEUROSCIENCES, 2016, 39 (01) : 40 - 48
  • [29] Risk and uncertainty in strategic decision making
    Fotr, J
    Svecová, L
    POLITICKA EKONOMIE, 2006, 54 (01) : 87 - 107
  • [30] Strategic Decision Making in Arts Organizations
    Cray, David
    Inglis, Loretta
    JOURNAL OF ARTS MANAGEMENT LAW AND SOCIETY, 2011, 41 (02): : 84 - 102
12345