Lecture by Prof. Christoph Kuzmics, University of Graz, at the Economics Research Seminar on April 20, 2021!

The Institute of Economics is proud to announce that Prof. Dr. Christoph Kuzmics, University of Graz, will give a lecture as part of the Economics Research Seminar on the topic of

Comparing theories of one-shot play out of treatment.

This event will take place on Tuesday, April 20, 2021, 4:00 p.m. (online).

Abstract: We collect data of one-shot play for a representative selection of two by two games with unique and completely mixed strategy predictions, to compare the predictive power of theories of one-shot play ``out of treatment:'' competing theories are calibrated with pre-existing data using different games and subjects. We find that all theories, except Nash equilibrium, have predictive power; no theory is uniformly best; and taking into account risk aversion significantly improves predictive power. Finally, Nash equilibrium with risk aversion is among the best predictors of play, except for one player position in games of a matching pennies variety.

Paper link: https://ssrn.com/abstract=3441675?

Further information about the Economics Research Seminar can be found here. Interested master students are warmly invited!