Edgar Allan Poe's riddle: Framing effects in repeated matching pennies games

• 成果类型: Article
• 署名作者: Eliaz, Kfir; Rubinstein, Ariel
• 署名单位: New York University; Brown University
• 刊物名称: GAMES AND ECONOMIC BEHAVIOR
• ISSN/ISSBN: 0899-8256
• DOI: 10.1016/j.geb.2009.05.010
• 发表日期: 2011
• 页码: 88-99
• 关键词: Matching pennies; Even and odd; framing effects; Edgar Allan Poe

摘要

Framing effects have a significant influence on the finitely repeated matching pennies game. The combination of being labelled a guesser, and having the objective of matching the opponent's action, appears to be advantageous. We find that being a player who aims to match the opponent's action is advantageous irrespective of whether the player moves first or second. We examine alternative explanations for our results and relate them to Edgar Allan Poe's The Purloined Letter. We propose a behavioral model which generates the observed asymmetry in the players' performance. (C) 2009 Elsevier Inc. All rights reserved.