tag:blogger.com,1999:blog-4748060798655400108.post8799655628347585286..comments2023-11-02T08:55:35.510-07:00Comments on Market Design: Nagel's guessing/beauty contest game: a famous experiment in game theoryAl Rothhttp://www.blogger.com/profile/02232854038397912604noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-4748060798655400108.post-74419807682674870952010-02-13T00:45:04.662-08:002010-02-13T00:45:04.662-08:00That Keynes quote from the class slides is great.
...That Keynes quote from the class slides is great.<br /><br />I think the modality speaks more to how little people actually reason. I feel like so much of the result is pure conditioning of people to believe there is a mathematical or closed form solution.<br /><br />Though my favorite result is the person who selected 100 in the "gametheorists and experimenters" game. They probably just felt that it was a humorous guess, but it's exactly that kind of guess that makes the modal selections irrational, right?<br /><br />I'm confused.Andrewhttps://www.blogger.com/profile/06450325593957652498noreply@blogger.comtag:blogger.com,1999:blog-4748060798655400108.post-21224324087675075122009-09-24T12:52:35.944-07:002009-09-24T12:52:35.944-07:00There was a more low brow discussion of this game ...There was a more low brow discussion of this game on this thread:<br /><br />http://mindyourdecisions.com/blog/2008/03/18/game-theory-tuesdays-winning-a-%E2%80%9Cbeauty-contest%E2%80%9D-or-how-my-professor-gambled-250-teaching-a-lesson/michael websterhttps://www.blogger.com/profile/08709023254632080905noreply@blogger.com