Cycle frequency in standard Rock–Paper–Scissors games: Evidence from experimental economics

Cycle frequency in standard Rock-Paper-Scissors games: Evidence from experimental economics

The Rock-Paper-Scissors (RPS) game is a widely used model system in game theory. Evolutionary game theory predicts the existence of persistent cycles in the evolutionary trajectories of the RPS game, but experimental evidence has remained to be rather weak. In this work we performed laboratory experiments on the RPS game and analyzed the social-state evolutionary trajectories of twelve populati...

Discrimination: Experimental Evidence from Psychology and Economics

Algorithmic Collusion in Cournot Duopoly Market: Evidence from Experimental Economics

Algorithmic collusion is an emerging concept. Whether algorithmic collusion is a creditable threat remains as an argument. In this paper, we propose an algorithm which can extort its human rival to collude in a Cournot duopoly competing market. In experiments, we show that, the algorithm can successfully extort its human rival and gets higher profit in long-run, meanwhile the human rival will f...

Punishment strategies in repeated games: Evidence from experimental markets

An experiment is designed to test the implications of the equilibria typically studied in the repeated game literature (i.e. those based on Nash reversion and optimal symmetric two-phase punishment strategies). One hundred pairs of subjects repeatedly set prices in a differentiated demand duopoly setting. Unlike existing experiments there was no fixed end date or time constraint (some pairs pla...

Experimental Evidence on Iterated Reasoning in Games

We present experimental evidence on two forms of iterated reasoning in games, i.e. backward induction and interactive knowledge. Besides reliable estimates of the cognitive skills of the subjects, our design allows us to disentangle two possible explanations for the observed limits in performed iterated reasoning: Restrictions in subjects' cognitive abilities and their beliefs concerning the ra...