Next Article in Journal
Introducing Disappointment Dynamics and Comparing Behaviors in Evolutionary Games: Some Simulation Results
Previous Article in Journal
External Pressure on Alliances: What Does the Prisoners’ Dilemma Reveal?
Article Menu

Export Article

Open AccessArticle
Games 2013, 4(4), 776-794; doi:10.3390/g4040776

Feature-Based Choice and Similarity Perception in Normal-Form Games: An Experimental Study

1
Solvay Brussels School of Economics and Management, European Center for Advanced Research in Economics and Statistics, Université Libre de Bruxelles, Avenue Roosevelt 50 CP 114, Bruxelles 1050, Belgium
2
Luiss Guido Carli, Department of Business and Management, Viale Pola 12, Roma 00198, Italy
*
Author to whom correspondence should be addressed.
Received: 16 September 2013 / Revised: 5 December 2013 / Accepted: 12 December 2013 / Published: 18 December 2013
View Full-Text   |   Download PDF [305 KB, uploaded 18 December 2013]   |  

Abstract

In this paper, we claim that agents confronting with new interactive situations apply behavioral heuristics that drastically reduce the problem complexity either by neglecting the other players’ incentives, or by restricting attention to subsets of “salient” outcomes. We postulate that these heuristics are sensitive to the manipulation of those features that can be modified without altering the (Nash) equilibrium structure of the game. We call these features “descriptive”. We test experimentally the effect of these descriptive features on both choice behavior and cross-game similarity perception. Analysis of individual choices confirms our hypotheses, and suggests that non-equilibrium choices may derive from simplified mental models of the game structure, rather than from heterogeneous beliefs or limited iterative thinking. In addition, subjects tend to behave similarly in games sharing similar descriptive features, regardless of their strategic structure. View Full-Text
Keywords: cross-game similarity; categorization; focal point; behavioral heuristic; individual behavior; one-shot game; response time cross-game similarity; categorization; focal point; behavioral heuristic; individual behavior; one-shot game; response time
This is an open access article distributed under the Creative Commons Attribution License (CC BY 3.0).

Supplementary material

Scifeed alert for new publications

Never miss any articles matching your research from any publisher
  • Get alerts for new papers matching your research
  • Find out the new papers from selected authors
  • Updated daily for 49'000+ journals and 6000+ publishers
  • Define your Scifeed now

SciFeed Share & Cite This Article

MDPI and ACS Style

Di Guida, S.; Devetag, G. Feature-Based Choice and Similarity Perception in Normal-Form Games: An Experimental Study. Games 2013, 4, 776-794.

Show more citation formats Show less citations formats

Related Articles

Article Metrics

Article Access Statistics

1

Comments

[Return to top]
Games EISSN 2073-4336 Published by MDPI AG, Basel, Switzerland RSS E-Mail Table of Contents Alert
Back to Top