 |
The effect of strategic environment and group size in beauty contest games
1 : Aix-Marseille University
Aix-Marseille Université - AMU
Does the effect of strategic environments (strategic substitution v.s.
strategic complement) on the experimental outcomes depend on the size of
group? We investigated this question by varying the group size, 2-player vs
8-player, in the two versions of beauty contest games with an interior
equilibrium. We replicate main finding of a previous study that shows significantly larger deviations of chosen numbers from the equilibrium under the strategic complementarity than under the strategic substitution for 8-player games. We found, however, that such
a significant effect of the strategic environment disappears in 2 player
games.
