Renkun Yang (杨仁琨)
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Express 03:Imperfect Choice or Imperfect Attention? Understanding Strategic Thinking in Private Information Games

7/29/2014

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Isabelle Brocas, Juan Carillo, Stephanie Wang, and Colin Camerer
http://www.restud.com/paper/imperfect-choice-or-imperfect-attention-understanding-strategic-thinking-in-private-information-games/

This is an accepted paper by RES (online version posted on January 7, 2014).
Perfect strategic thinking is a key assumption in standard game theory, but it’s often unattainable in real games or experiments. The strategic thinking limits can be explained by imperfect choice or imperfect attention. The authors use “Mousetracking” (recording which payoff the subjects attend to and for how long) to investigate the strategic thinking limits in private information games. The games have three information states and vary in strategic complexity. Subjects consistently deviate from Nash equilibrium choices and often fail to look at payoffs which they need to in order to compute an equilibrium response. Cluster analysis according to lookup patterns and choices shows that three clusters appear to correspond approximately to level-3, level-2 and level-1 thinking in level-k models, and a fourth cluster is consistent with inferential mistakes . Deviations from Nash play are associated with failure to look at the necessary payoffs. The time durations of looking at key payoffs can predict choices, to some extent, at the individual level and at the trial-by-trial level.

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Express 02: Assortative Mating and Income Inequality

7/14/2014

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This is a NBER working paper in Jan 2014. Using data from the United States Census Bureau the authors find that there has been a rise in assortative mating, and assortative mating does contribute to household income inequality. Comparing to the baseline of randomly mating, the Gini coefficient in the assortative case is significantly higher (0.43 vs. 0.34 in 2005).
Comment: Em, see also in another express "Educational Assortative Mating"
Author: Jeremy Greenwood, Nezih Guner, Georgi Kocharkov, Cezar Santos
Link: http://www.nber.org/papers/w19829
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Express 01: Educational Assortative Mating and Household Income Inequality

7/14/2014

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This is a NBER working paper in July 2014. Using data from the U.S. and Norway over 1980-2007, the authors find evidence of positive assortative mating at all levels of education. The density is declining among high educated but increasing among the low educated. Furthermore, they find that educational assortative mating contributes significantly to the cross-sectional inequality in household income. The negative effect on the trend of inequality by declining high educated matching is offset by increasing low educated matching.
Comment: Em, is educational assortative mating the fairest causal factor for inequality?
Authors: Lasse Eika, Magne Mogstad, Basit Zafar 
Link: http://www.nber.org/papers/w20271


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