Social preferences are not enough: Accounting for anomalous behavior in a complex mixed-motive game

In some economic games, participants systematically display behavior that departs from the model of payoff maximization, and this is usually attributed to social preferences. In this paper we focus on a new interactive context, a mixed-motive game called “Alternative Traveler’s Dilemma” (ATD). In th...

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Autores:
Moro, Rodrigo
Freidin, Esteban
Tohmé, Fernando
Tipo de recurso:
Article of journal
Fecha de publicación:
2015
Institución:
Universidad Nacional de Colombia
Repositorio:
Universidad Nacional de Colombia
Idioma:
spa
OAI Identifier:
oai:repositorio.unal.edu.co:unal/62609
Acceso en línea:
https://repositorio.unal.edu.co/handle/unal/62609
http://bdigital.unal.edu.co/61768/
Palabra clave:
33 Economía / Economics
Mixed-motive games
anomalous behavior
social preferences
competition
cognitive factors
payoff-maximization
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openAccess
License
Atribución-NoComercial 4.0 Internacional
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spelling Atribución-NoComercial 4.0 InternacionalDerechos reservados - Universidad Nacional de Colombiahttp://creativecommons.org/licenses/by-nc/4.0/info:eu-repo/semantics/openAccesshttp://purl.org/coar/access_right/c_abf2Moro, Rodrigo6f3d5ef0-4d78-47f5-9bf1-de004f1e0a1a300Freidin, Esteban0fbdb144-befd-4b01-9efc-977cdf8cb0dc300Tohmé, Fernandoa2f7a2e5-cb5d-48d7-93f5-834e56a661b53002019-07-02T21:05:53Z2019-07-02T21:05:53Z2015-07-01ISSN: 2248-4337https://repositorio.unal.edu.co/handle/unal/62609http://bdigital.unal.edu.co/61768/In some economic games, participants systematically display behavior that departs from the model of payoff maximization, and this is usually attributed to social preferences. In this paper we focus on a new interactive context, a mixed-motive game called “Alternative Traveler’s Dilemma” (ATD). In this context, most participants choose strictly dominated strategies. Preliminary studies suggest the reason for such a tendency is that participants have social preferences, usually competitive in nature. The question is whether some cognitive factor should also be included in models that accounts for the tendency at stake. More specifically, we investigate whether participants neglect payoff maximization, that is, whether they fail to notice that, by pursuing some competitive goal, they are not maximizing their payoffs. We report the results of an experiment that supports this hypothesis. We conclude that in order to explain anomalous behavior in the ATD and similar games, we need to study the cognitive factors that bound participants’ strategies and understanding of the game.application/pdfspaUniversidad Nacional de Colombia - Sede Bogotá - Facultad de Ciencias Económicas - Escuela de Economíahttps://revistas.unal.edu.co/index.php/ceconomia/article/view/43481Universidad Nacional de Colombia Revistas electrónicas UN Cuadernos de EconomíaCuadernos de EconomíaMoro, Rodrigo and Freidin, Esteban and Tohmé, Fernando (2015) Social preferences are not enough: Accounting for anomalous behavior in a complex mixed-motive game. Cuadernos de Economía, 34 (65). pp. 261-278. ISSN 2248-433733 Economía / EconomicsMixed-motive gamesanomalous behaviorsocial preferencescompetitioncognitive factorspayoff-maximizationSocial preferences are not enough: Accounting for anomalous behavior in a complex mixed-motive gameArtículo de revistainfo:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionhttp://purl.org/coar/resource_type/c_6501http://purl.org/coar/resource_type/c_2df8fbb1http://purl.org/coar/version/c_970fb48d4fbd8a85Texthttp://purl.org/redcol/resource_type/ARTORIGINAL43481-230638-2-PB.pdfapplication/pdf361998https://repositorio.unal.edu.co/bitstream/unal/62609/1/43481-230638-2-PB.pdf96d40d10e84493015b42b328517a1685MD51THUMBNAIL43481-230638-2-PB.pdf.jpg43481-230638-2-PB.pdf.jpgGenerated Thumbnailimage/jpeg6132https://repositorio.unal.edu.co/bitstream/unal/62609/2/43481-230638-2-PB.pdf.jpga646df3a5e2d73887ebbd4e8d6272fc3MD52unal/62609oai:repositorio.unal.edu.co:unal/626092023-04-17 23:05:26.842Repositorio Institucional Universidad Nacional de Colombiarepositorio_nal@unal.edu.co
dc.title.spa.fl_str_mv Social preferences are not enough: Accounting for anomalous behavior in a complex mixed-motive game
title Social preferences are not enough: Accounting for anomalous behavior in a complex mixed-motive game
spellingShingle Social preferences are not enough: Accounting for anomalous behavior in a complex mixed-motive game
33 Economía / Economics
Mixed-motive games
anomalous behavior
social preferences
competition
cognitive factors
payoff-maximization
title_short Social preferences are not enough: Accounting for anomalous behavior in a complex mixed-motive game
title_full Social preferences are not enough: Accounting for anomalous behavior in a complex mixed-motive game
title_fullStr Social preferences are not enough: Accounting for anomalous behavior in a complex mixed-motive game
title_full_unstemmed Social preferences are not enough: Accounting for anomalous behavior in a complex mixed-motive game
title_sort Social preferences are not enough: Accounting for anomalous behavior in a complex mixed-motive game
dc.creator.fl_str_mv Moro, Rodrigo
Freidin, Esteban
Tohmé, Fernando
dc.contributor.author.spa.fl_str_mv Moro, Rodrigo
Freidin, Esteban
Tohmé, Fernando
dc.subject.ddc.spa.fl_str_mv 33 Economía / Economics
topic 33 Economía / Economics
Mixed-motive games
anomalous behavior
social preferences
competition
cognitive factors
payoff-maximization
dc.subject.proposal.spa.fl_str_mv Mixed-motive games
anomalous behavior
social preferences
competition
cognitive factors
payoff-maximization
description In some economic games, participants systematically display behavior that departs from the model of payoff maximization, and this is usually attributed to social preferences. In this paper we focus on a new interactive context, a mixed-motive game called “Alternative Traveler’s Dilemma” (ATD). In this context, most participants choose strictly dominated strategies. Preliminary studies suggest the reason for such a tendency is that participants have social preferences, usually competitive in nature. The question is whether some cognitive factor should also be included in models that accounts for the tendency at stake. More specifically, we investigate whether participants neglect payoff maximization, that is, whether they fail to notice that, by pursuing some competitive goal, they are not maximizing their payoffs. We report the results of an experiment that supports this hypothesis. We conclude that in order to explain anomalous behavior in the ATD and similar games, we need to study the cognitive factors that bound participants’ strategies and understanding of the game.
publishDate 2015
dc.date.issued.spa.fl_str_mv 2015-07-01
dc.date.accessioned.spa.fl_str_mv 2019-07-02T21:05:53Z
dc.date.available.spa.fl_str_mv 2019-07-02T21:05:53Z
dc.type.spa.fl_str_mv Artículo de revista
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dc.relation.ispartof.spa.fl_str_mv Universidad Nacional de Colombia Revistas electrónicas UN Cuadernos de Economía
Cuadernos de Economía
dc.relation.references.spa.fl_str_mv Moro, Rodrigo and Freidin, Esteban and Tohmé, Fernando (2015) Social preferences are not enough: Accounting for anomalous behavior in a complex mixed-motive game. Cuadernos de Economía, 34 (65). pp. 261-278. ISSN 2248-4337
dc.rights.spa.fl_str_mv Derechos reservados - Universidad Nacional de Colombia
dc.rights.coar.fl_str_mv http://purl.org/coar/access_right/c_abf2
dc.rights.license.spa.fl_str_mv Atribución-NoComercial 4.0 Internacional
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rights_invalid_str_mv Atribución-NoComercial 4.0 Internacional
Derechos reservados - Universidad Nacional de Colombia
http://creativecommons.org/licenses/by-nc/4.0/
http://purl.org/coar/access_right/c_abf2
eu_rights_str_mv openAccess
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dc.publisher.spa.fl_str_mv Universidad Nacional de Colombia - Sede Bogotá - Facultad de Ciencias Económicas - Escuela de Economía
institution Universidad Nacional de Colombia
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