Título Teaching Nash equilibrium and dominance: A classroom experiment on the beauty contest
Autores Alba-Fernandez, Virtudes , BRAÑAS GARZA, PABLO ERNESTO, Jimenez-Jimenez, Francisca , Rodero-Cosano, Javier
Publicación externa Si
Alcance Article
Naturaleza Científica
Cuartil JCR 4
Cuartil SJR 3
Impacto JCR 0.211
Impacto SJR 0.258
Fecha de publicacion 01/01/2006
ISI 000239734400004
DOI 10.3200/JECE.37.3.305-322
Abstract The authors\' aim in this article was to show how the use of classroom experiments may be a good pedagogical tool to teach the Nash equilibrium (NE) concept. The basic game is a version of the beauty contest game (BCG), a simple guessing game in which repetition lets students react to other players\' choices and converge iteratively to the equilibrium solution. The authors perform this experiment with undergraduate students with no previous training in game theory. After four rounds, they observe a clear decreasing tendency in the average submitted number in all groups. Thus, the findings show that by playing a repeated BCG, students quickly learn how to reach the NE solution.
Palabras clave beauty contest game; classroom experiments; Nash equilibrium; teaching
Miembros de la Universidad Loyola

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