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American Economic Review: Vol. 101 No. 2 (April 2011)

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Stationary Concepts for Experimental 2 X 2 Games: Reply

Article Citation

Selten, Reinhard, Thorsten Chmura, and Sebastian J. Goerg. 2011. "Stationary Concepts for Experimental 2 X 2 Games: Reply." American Economic Review, 101(2): 1041-44.

DOI: 10.1257/aer.101.2.1041

Abstract

This is a reply to "Stationary Concepts for Experimental 2 X 2 Games: Comment" by Brunner, Camerer, and Goeree which corrects some computational errors in Selten and Chmura (2008) and extends the comparison of five stationary concepts to data from previous experimental studies. We critically discuss their new findings and relate them to the data of Selten and Chmura (2008). We conclude that the parametric concepts of action-sampling equilibrium and payoff-sampling equilibrium perform better than quantal response equilibrium, and that the non-parametric concept of impulse-balance equilibrium performs at least as well as quantal response equilibrium. (JEL C70)

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Authors

Selten, Reinhard (BonnEconLab, U Bonn)
Chmura, Thorsten (U Munich and BonnEconLab, U Bonn)
Goerg, Sebastian J. (Max Planck Institute for Research on Collective Goods, Bonn and BonnEconLab, U Bonn)

JEL Classifications

C70: Game Theory and Bargaining Theory: General


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