Mixed Strategy Play and the Minimax Hypothesis

Shachat, J.

Abstract

This paper reports on a set of experiments designed to discriminate among the possible sources of the failure of the unique mixed strategy minimax equilibrium of the O'Neill (1987) game. This is accomplished by introducing a new methodology for eliciting mixed strategies, which overcomes some of the difficulties encountered by previous experimental studies. The results clearly show that subjects' choices do not coincide with their minimax strategies, and that players' intended behavior is not minimax. Journal of Economic Literature Classification Numbers: C72, C92.

• Journal Article Type: Article
• Publication Date: 2002-05
• Deposit Date: Sep 17, 2014
• Journal: Journal of Economic Theory
• Print ISSN: 0022-0531
• Publisher: Elsevier
• Peer Reviewed: Peer Reviewed
• Volume: 104
• Issue: 1
• Pages: 189-226
• DOI: https://doi.org/10.1006/jeth.2001.2915
• Public URL: https://durham-repository.worktribe.com/output/1420816