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Please use this identifier to cite or link to this item: http://hdl.handle.net/10481/31461

Title: Communication, coordination and competition in the beauty contest game: eleven classroom experiments
Authors: Alba Fernández, Virtudes
Brañas-Garza, Pablo
Jiménez Jiménez, Francisca
Rodero Cosano, Javier
Issue Date: 2004
Abstract: This paper introduces some new features in the standard experimental design of the beauty contest in order to allow communication among participants. With that aim, we use the mode instead of the mean and non-rival payoffs. This design encourages students to communicate their guessed number, with a higher probability if subjects know the 0 Nash equilibrium. The lack of communication can only be explained by subjects endowed with competitive other-regarding preferences. Experiments are run in 11 classrooms ranging from 11 to 60 students in size. Participants are given at least one week to submit their guesses and a questionnaire explaining their choice. Results indicate that: i) communication induces coordination in the responses, ii) communication does not guarantee any improvement in the average reasoning level, iii) there exist significative differences according to classroom size and duration of degree.
Sponsorship: We gratefully acknowledge the financial support from the University of Jaén R+D program (# 20210/148).
Publisher: Universidad de Granada. Departamento de Teoría e Historia Económica
Description: Este trabajo ha sido publicado en Central European Journal of Operations Research 12(4): 369-287 (2004).
Series/Report no.: The Papers;04/01
Keywords: Beauty contest games
URI: http://hdl.handle.net/10481/31461
Citation: Albra Fernández, V.; Brañas Garza, P.; Jiménez Jiménez, F.; Rodero Cosano, J. Communication, coordination and competition in the beauty contest game: eleven classroom experiments. Universidad de Granada. Departamento de Teoría e Historia Económica (2004). (The Papers; 04/01). [http://hdl.handle.net/10481/31461]
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