Deterministic and Stochastic Prisoner's Dilemma Games: Experiments in Interdependent Security / Howard Kunreuther, Gabriel Silvasi, Eric T. Bradlow, Dylan Small.

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Kunreuther, Howard

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Material type: Text

TextSeries: Technical Working Paper Series (National Bureau of Economic Research) ; no. t0341.Publication details: Cambridge, Mass. National Bureau of Economic Research 2007.Description: 1 online resource: illustrations (black and white)Subject(s):

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Abstract: This paper examines experiments on interdependent security prisoner's dilemma games with repeated play. By utilizing a Bayesian hierarchical model, we examine how subjects make investment decisions as a function of their previous experience and their treatment condition. Our main findings are that individuals have differing underlying propensities to invest that vary across time, are affected by both the stochastic nature of the game and even more so by an individual's ability to learn about his or her counterpart's choices. Implications for individual decisions and the likely play of a person's counterpart are discussed in detail.

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Item type	Home library	Collection	Call number	Status	Date due	Barcode	Item holds
Working Paper	Biblioteca Digital	Colección NBER	nber t0341 (Browse shelf(Opens below))	Not For Loan

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August 2007.

This paper examines experiments on interdependent security prisoner's dilemma games with repeated play. By utilizing a Bayesian hierarchical model, we examine how subjects make investment decisions as a function of their previous experience and their treatment condition. Our main findings are that individuals have differing underlying propensities to invest that vary across time, are affected by both the stochastic nature of the game and even more so by an individual's ability to learn about his or her counterpart's choices. Implications for individual decisions and the likely play of a person's counterpart are discussed in detail.