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dc.contributor.authorBerninghaus, Siegfried K.en_US
dc.contributor.authorGüth, Werneren_US
dc.contributor.authorSchosser, Stephanen_US
dc.date.accessioned2012-07-11en_US
dc.date.accessioned2012-07-26T11:11:42Z-
dc.date.available2012-07-26T11:11:42Z-
dc.date.issued2012en_US
dc.identifier.urihttp://hdl.handle.net/10419/60195-
dc.description.abstractBounded rationality questions backward induction, which however, does not exclude such reasoning when anticipation is easy. In our stochastic (alternating offer) bargaining experiment, there is a certain first-period pie and a known finite deadline. What is uncertain (except for the final period) is whether there is a further period. Whereas backward induction requires information about all later pie sizes and probabilities, forward reasoning is expected to consider only the immediate prospects. Rather than relying only on decision data, we try to assess the cognitive approach such as forward reasoning of backward induction by control of information retrieval. We find that participants who begin with the shortest games before playing possibly longer games, initially resort to backward induction before switching to forward-looking behavior.en_US
dc.language.isoengen_US
dc.publisherKIT Karlsruheen_US
dc.relation.ispartofseriesWorking Paper series in economics 42en_US
dc.subject.jelC70en_US
dc.subject.jelC72en_US
dc.subject.jelC91en_US
dc.subject.ddc330en_US
dc.subject.keywordbackward inductionen_US
dc.subject.keywordforward reasoningen_US
dc.subject.keywordbargainingen_US
dc.subject.stwVerhandlungstheorieen_US
dc.subject.stwStochastischer Prozessen_US
dc.subject.stwBeschränkte Rationalitäten_US
dc.subject.stwTesten_US
dc.titleBackward induction or forward reasoning? An experiment of stochastic alternating offer bargainingen_US
dc.typeWorking Paperen_US
dc.identifier.ppn719215927en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
dc.identifier.repecRePEc:zbw:kitwps:42-
Appears in Collections:Working Paper Series in Economics, Karlsruher Institut für Technologie (KIT)

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