SFB 303 Discussion Paper No. B-236
Author:
Nagel, Rosemarie
Title: Experimental Results on Interactive Competitive Guessing
Abstract: A large number of players have to state simultaneously a number in the
closed interval (0,100). The winner is the player whose stated number is
closed to p-fold average of all chosen numbers, where p is a fixed and
commonly known positive parameter. The game is repeated for several rounds.
In the first round most of the stated numbers are far away from an equilibrium
point. In the succeeding rounds, they approach an equilibrium or converge to
it. We propose a simple theory of first round behavior that involves types
of players who use finite steps of reasoning. As an explanation of behavior
over time, a simple qualitative adaption process based on individual
experience is suggested.
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Creation-Date: April 1993
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