eprintid: 14585
rev_number: 33
eprint_status: archive
userid: 600
dir: disk0/00/01/45/85
datestamp: 2009-02-24 15:44:00
lastmod: 2015-07-23 09:36:22
status_changed: 2009-02-24 15:44:00
type: working_paper
metadata_visibility: show
creators_name: Huck, S.
creators_name: Jehiel, P.
creators_id: SHUCK00
creators_id: PJEHI72
title: Public statistics and private experience: varying feedback information in a take or pass game
ispublished: pub
subjects: 12000
subjects: 13200
divisions: F24
keywords: Backward induction, analogy-based equilibrium, experiment
abstract: We study how subjects in an experiment use different forms of public
information about their opponents’ past behaviour. In the absence
of public information, subjects appear to use rather detailed statistics
summarizing their private experiences. If they have additional public
information, they make use of this information even if it is less precise
than their own private statistics–except for very high stakes. Making
public information more precise has two consequences: It is also
used when the stakes are very high and it reduces the number of subjects
who ignore any information–public and private. That is, precise
public information crowds in the use of own information. Finally, our
results shed some light on unravelling in centipede games.
date: 2004-09
publisher: ESRC Centre for Economic Learning and Social Evolution
official_url: http://else.econ.ucl.ac.uk/newweb/papers.php
vfaculties: VSHS
oa_status: green
language: eng
primo: open
primo_central: open_green
lyricists_name: Huck, S
lyricists_name: Jehiel, P
lyricists_id: SHUCK00
lyricists_id: PJEHI72
full_text_status: public
series: ELSE Working Papers
number: 89
place_of_pub: London, UK
citation:        Huck, S.;    Jehiel, P.;      (2004)    Public statistics and private experience: varying feedback information in a take or pass game.                    (ELSE Working Papers  89). ESRC Centre for Economic Learning and Social Evolution: London, UK.       Green open access   
 
document_url: https://discovery.ucl.ac.uk/id/eprint/14585/1/14585.pdf