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  1. Strategic complexity and the value of thinking
    Autor*in: Gill, David; Prowse, Victoria
    Erschienen: May 2022
    Verlag:  IZA - Institute of Labor Economics, Bonn, Germany

    Response times are a simple low-cost indicator of the process of reasoning in strategic games. In this paper, we leverage the dynamic nature of response-time data from repeated strategic interactions to measure the strategic complexity of a situation... mehr

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 4
    Fernleihe:
    keine Fernleihe

     

    Response times are a simple low-cost indicator of the process of reasoning in strategic games. In this paper, we leverage the dynamic nature of response-time data from repeated strategic interactions to measure the strategic complexity of a situation by how long people think on average when they face that situation (where we categorize situations according to the characteristics of play in the previous round). We find that strategic complexity varies significantly across situations, and we find considerable heterogeneity in how responsive subjects' thinking times are to complexity. We also study how variation in response times at the individual level across rounds affects strategic behavior and success: when a subject thinks for longer than she would normally do in a particular situation, she wins less frequently and earns less. The behavioral mechanism that drives the reduction in performance is a tendency to move away from Nash equilibrium behavior. Finally, cognitive ability and personality have no effect on average response times.

     
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/263491
    Schriftenreihe: Discussion paper series / IZA ; no. 15275
    Schlagworte: response time; decision time; deliberation time; thinking time; complexity; level-k; game theory; strategic game; repeated games; beauty contest; cognitive ability; personality
    Umfang: 1 Online-Ressource (circa 70 Seiten), Illustrationen
  2. Pour some sugar in me
    does glucose enrichment improve decision making?
    Autor*in: McElroy, Todd; Dickinson, David L.; Stroh, Nathan
    Erschienen: 2014
    Verlag:  Appalachian State Univ., Dep. of Economics, Boone, NC

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Fernleihe:
    keine Fernleihe
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Hinweise zum Inhalt
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Department of Economics working paper / Appalachian State University ; 14,12
    Schlagworte: Glucose; response time; A-DMC; thinking; experiments
    Umfang: Online-Ressource (19 S.)