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|Title:||Granny versus Game Theorst: Ambiguity in Experimental Games |
Kelsey, David H.
Schipper, Burkhard C.
|Issue Date:||2006 |
|Series/Report no.:||Bonn econ discussion papers 2006,17|
|Abstract:||We report on an experiment in which subjects choose actions in strategic games with either strategic complements or substitutes against a granny, a game theorist or other subjects. The games are selected in order to test predictions on the comparative statics of equilibrium with respect to changes in strategic ambiguity. We find that subjects face higher ambiguity while playing against the granny than playing against the game theorist if we assume that subjects are ambiguity averse. Moreover, under the same assumption, subjects choose more secure actions in games more prone to ambiguity which is in line with the predictions.|
Choquet expected utility
equilibrium under ambiguity
|Document Type:||Working Paper|
|Appears in Collections:||Bonn Econ Discussion Papers, Bonn Graduate School of Economics (BGSE), Universität Bonn|
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