Stable sampling equilibrium in common pool resource games

This paper reconsiders evidence from experimental common pool resource games from the perspective of a model of payoff sampling. Despite being parameter-free, the model is able to replicate some striking features of the data, including single-peaked frequency distributions, the persistent use of str...

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Autores:
Tipo de recurso:
Fecha de publicación:
2015
Institución:
Universidad del Rosario
Repositorio:
Repositorio EdocUR - U. Rosario
Idioma:
eng
OAI Identifier:
oai:repository.urosario.edu.co:10336/26993
Acceso en línea:
https://doi.org/10.3390/g6030299
https://repository.urosario.edu.co/handle/10336/26993
Palabra clave:
Common pool resource games
Experiments
Quantal response equilibrium
Sampling equilibrium
Rights
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Abierto (Texto Completo)
Description
Summary:This paper reconsiders evidence from experimental common pool resource games from the perspective of a model of payoff sampling. Despite being parameter-free, the model is able to replicate some striking features of the data, including single-peaked frequency distributions, the persistent use of strictly dominated actionsand stable heterogeneity in choices. These properties can also be accurately replicated using logit quantal response equilibrium (QRE), but only by tuning the free parameter separately for separate games. When the QRE parameter is constrained to be the same across games, sampling equilibrium provides a superior fit to the data. We argue that these findings are likely to generalize to other complex games with multiple players and strategies. © 2015 by the authors; licensee MDPI, Basel, Switzerland.