Travelers' Types

Pablo Brañas-Garza (1) , María Paz Espinosa (1) , Pedro Rey-Biel (1)

1 UGR - Universidad de Granada = University of Granada

This paper uses subjects' diverse self-reported justi...cations to explain discrepancies between observed heterogeneous behavior and the unique equilibrium prediction in a one-shot traveler's dilemma experiment. Principal components analysis suggests that iterative reasoning, aspiration levels, competitive behavior, attitudes towards risk and penalties and focal points may be behind di¤erent choices. Such reasons are coherent with same subjects' behavior in other tests and experiments in which these particular issues are prominent, and thus, we identify "types" of subjects. Overall, we conclude that subjects' self-justi...cations in complex strategic situations contain informational value which may be used to predict behavior in other situations of economic importance.

Mots clés: experiments; D81; traveler's dilemma; self-reports; principal components; experiments.; C72; C81; C91; D81.

Domaines: Économie et finance quantitative [q-fin]

Pablo Brañas-Garza, María Paz Espinosa, Pedro Rey-Biel. Travelers' Types. Journal of Economic Behavior and Organization, 2011, 78 (1-2), pp.25. ⟨10.1016/j.jebo.2010.12.005⟩. ⟨hal-00978260⟩