The Minority of Three-Game: An Experimental and Theoretical Analysis

We report experimental results on the minority of three-game, where three players choose one of two alternatives and the most rewarding alternative is the one chosen by a single player. This coordination game has many asymmetric equilibria in pure strategies that are non-strict and payoff-asymmetric...

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Main Authors:	Werner Güth, Thorsten Chmura
Format:	Article
Language:	English
Published:	MDPI AG 2011-09-01
Series:	Games
Subjects:	coordination minority game mixed strategy learning models experiments
Online Access:	http://www.mdpi.com/2073-4336/2/3/333/

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spelling	doaj-3e9d47c8d8c64eb890759451a9359bcb2020-11-24T22:29:37ZengMDPI AGGames2073-43362011-09-012333335410.3390/g2030333The Minority of Three-Game: An Experimental and Theoretical AnalysisWerner GüthThorsten ChmuraWe report experimental results on the minority of three-game, where three players choose one of two alternatives and the most rewarding alternative is the one chosen by a single player. This coordination game has many asymmetric equilibria in pure strategies that are non-strict and payoff-asymmetric and a unique symmetric mixed strategy equilibrium in which each player’s behavior is based on the toss of a fair coin. This straightforward behavior is predicted by equilibrium selection, impulse-balance equilibrium, and payoff-sampling equilibrium. Experimental participants rely on various decision rules, and only a quarter of them perfectly randomize.http://www.mdpi.com/2073-4336/2/3/333/coordinationminority gamemixed strategylearning modelsexperiments
collection	DOAJ
language	English
format	Article
sources	DOAJ
author	Werner Güth Thorsten Chmura
spellingShingle	Werner Güth Thorsten Chmura The Minority of Three-Game: An Experimental and Theoretical Analysis Games coordination minority game mixed strategy learning models experiments
author_facet	Werner Güth Thorsten Chmura
author_sort	Werner Güth
title	The Minority of Three-Game: An Experimental and Theoretical Analysis
title_short	The Minority of Three-Game: An Experimental and Theoretical Analysis
title_full	The Minority of Three-Game: An Experimental and Theoretical Analysis
title_fullStr	The Minority of Three-Game: An Experimental and Theoretical Analysis
title_full_unstemmed	The Minority of Three-Game: An Experimental and Theoretical Analysis
title_sort	minority of three-game: an experimental and theoretical analysis
publisher	MDPI AG
series	Games
issn	2073-4336
publishDate	2011-09-01
description	We report experimental results on the minority of three-game, where three players choose one of two alternatives and the most rewarding alternative is the one chosen by a single player. This coordination game has many asymmetric equilibria in pure strategies that are non-strict and payoff-asymmetric and a unique symmetric mixed strategy equilibrium in which each player’s behavior is based on the toss of a fair coin. This straightforward behavior is predicted by equilibrium selection, impulse-balance equilibrium, and payoff-sampling equilibrium. Experimental participants rely on various decision rules, and only a quarter of them perfectly randomize.
topic	coordination minority game mixed strategy learning models experiments
url	http://www.mdpi.com/2073-4336/2/3/333/
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The Minority of Three-Game: An Experimental and Theoretical Analysis

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