Measuring Depth of Thinking: P Beauty Game is better than 11-20 Game
2015/04/07
研討會日期 : 2015-04-07
時間 : 14:30
主講人 : Professor Kingking Li
主持人 : Professor Meng-Yu Liang
地點 : Conference Room B110
演講者簡介 : Professor Li received his Ph.D. in Economics from Hong Kong University of Science and Technology. He is currently an Assistant Professor at City University of Hong Kong. His research fields are Experimental Economics, Behavioral Economics, Behavioral Finance, and Neuroeconomics.
演講摘要 : Arad and Rubinstein (2012, AER) proposes the 11-20 money request game as a better alternative to the P beauty contest game for measuring depth of thinking such as level-k reasoning of individuals. In the current paper, we find the opposite result that P beauty game is a better tool than the 11-20 game for measuring depth of thinking. The main reason is that individual’s choice in the 11-20 game is mainly driven by risk aversion rather than strategic reasoning. On the other hand, individual’s choice in the P beauty game is positively correlated with strategic reasoning, and not risk aversion. Since the choices in the 11-20 game is confounded with risk attitudes, it performs poorly as compared to the P beauty game.
