On the Robustness of Behaviour in Experimental ‘Beauty Contest’ Games

17 Pages Posted: 28 Jan 2012

See all articles by John Duffy

John Duffy

University of California, Irvine

Rosemarie Nagel

Universitat Pompeu Fabra - Department of Economics

Date Written: November 1997

Abstract

We report and compare results from several different versions of an experimental interactive guessing game first studied by Nagel (1995), which we refer to as the ‘beauty contest’ game following Keynes (1936). In these games, groups of subjects are repeatedly asked to simultaneously guess a real number in the interval [0, 100] that they believe will be closest to 1/2 times either the median, mean, or maximum of all numbers chosen. We also use our experimental data to test a simple model of adaptive learning behaviour.

Suggested Citation

Duffy, John and Nagel, Rosemarie, On the Robustness of Behaviour in Experimental ‘Beauty Contest’ Games (November 1997). The Economic Journal, Vol. 107, Issue 445, pp. 1684-1700, 1997. Available at SSRN: https://ssrn.com/abstract=1994223 or http://dx.doi.org/10.1111/j.1468-0297.1997.tb00075.x

John Duffy (Contact Author)

University of California, Irvine ( email )

Department of Economics
3151 Social Science Plaza
Irvine, CA 92697
United States
949-824-8341 (Phone)

Rosemarie Nagel

Universitat Pompeu Fabra - Department of Economics ( email )

Ramon Trias Fargas 25-27
08005 Barcelona
Spain
+34 93 542 3729 (Phone)
+34 93 542 1746 (Fax)

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