The Experimental Research on 2×2 Game with Unique Mixed Strategy Nash Equilibrium

Abstract:

This paper reports the results of an experimental study of playing a simple 2×2 non-zero sum game with asymmetrical payoff function. Subjects make decisions about their estimation for their opponent, and then each of them chooses a strategy after their roles are changed at random. As a result, steady states which subjects estimates are quite different from those predicted by the Nash equilibrium theory. Through comparative analysis, it is found that the selections of strategies are related to others’ payoff as well as subjects’ own return. And what is more, the subjects’ risk attitudes influence the choice of game.

• Periodical: Applied Mechanics and Materials (Volumes 121-126)
• Pages: 1125-1129
• DOI: https://doi.org/10.4028/www.scientific.net/AMM.121-126.1125
• Online since: October 2011
• Authors: Hong Cheng, Mei Ping Huang, Ying Sheng Su, Xian Yu Wang
• Keywords: Experimental Game, Mixed Strategy, Nash Equilibrium

References

[1] D. Fudenberg, J. Tirole: Game Theory (China Renmin University Press, Beijing 2002), in Chinese.

[2] Xuejun Jin: Experimental economics (Capital University of Economics and Business Press, Beijing 2006), in Chinese.

[3] Min Tang, Yushi Mao: Forefront topics of modern economics (The Commercial Publications, Beijing 2003), in Chinese.

[4] J. M. Shachat: Journal of Economic Theory Vol. 104(2002), p.189.

[5] R. D. McKelveya, T. R. Palfreya and R. A. Weber: Journal of Economic Behavior & Organization Vol. 42(2000), pp.523-548.

[6] J. Ochs: Games With Unique: Games and Economic Behavior Vol. 10 (1995), p.202.

[7] Peng Shao: Shanghai Journal of Economics Vol. 9(2009), p.77, in Chinese.

[8] Chaoyuan Yue: Decision theories and methods (Science press, Beijing 2003), in Chinese.

[9] Jianhua Wang: Game Theory (Tsinghua University press, Beijing 1986), in Chinese.