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Games 2011, 2(3), 333-354; doi:10.3390/g2030333

The Minority of Three-Game: An Experimental and Theoretical Analysis

Department of Economics, University of Munich, Ludwigstrasse 59, Munich 80539, Germany
Strategic Interaction Group, Max Planck Institute of Economics, Kahlaische Str. 10, Jena 07745, Germany
Author to whom correspondence should be addressed.
Received: 2 March 2011 / Revised: 20 July 2011 / Accepted: 8 August 2011 / Published: 9 September 2011
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We report experimental results on the minority of three-game, where three players choose one of two alternatives and the most rewarding alternative is the one chosen by a single player. This coordination game has many asymmetric equilibria in pure strategies that are non-strict and payoff-asymmetric and a unique symmetric mixed strategy equilibrium in which each player’s behavior is based on the toss of a fair coin. This straightforward behavior is predicted by equilibrium selection, impulse-balance equilibrium, and payoff-sampling equilibrium. Experimental participants rely on various decision rules, and only a quarter of them perfectly randomize. View Full-Text
Keywords: coordination; minority game; mixed strategy; learning models; experiments coordination; minority game; mixed strategy; learning models; experiments

This is an open access article distributed under the Creative Commons Attribution License (CC BY 3.0).

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Chmura, T.; Güth, W. The Minority of Three-Game: An Experimental and Theoretical Analysis. Games 2011, 2, 333-354.

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