Experimental 'beauty contests' with homogeneous and heterogeneous players and with interior and boundary equilibria

Güth, Werner; Kocher, Martin G. and Sutter, Matthias (2002): Experimental 'beauty contests' with homogeneous and heterogeneous players and with interior and boundary equilibria. In: Economics Letters, Vol. 74, No. 2: pp. 219-228

Abstract

We study behavior in experimental beauty contests with, first, boundary and interior equilibria, and, second, homogeneous and heterogenous types of players. We find quicker and better convergence to the game-theoretic equilibrium with interior equilibria and homogeneous players.

• Item Type: Journal article
• Faculties: Economics; Economics > Chairs > Chair of Empirical Economics
• Subjects: 300 Social sciences > 330 Economics
• ISSN: 0165-1765
• Language: English