Using Visual Salience in Empirical Game Theory
59 Pages Posted: 11 Jan 2019
Date Written: January 1, 2019
Coordination games often have salient “focal points”. In games where choices are locations in images, we test for the effect of salience, predicted a priori using a neuroscience-based algorithm, Concentration of salience is correlated with the rate of matching when players are trying to match (r=.64). In hider-seeker games, all players choose salient locations more often, creating a “seeker’s advantage” (seekers win 9% of games). Salience-choice relations are explained by a salience-enhanced cognitive hierarchy model. The novel prediction that time pressure will increases seeker’s advantage, by biasing choices toward salience, is confirmed. Other links to salience in economics are suggested.
Keywords: salience, focal points, coordination, neuroeconomic
JEL Classification: C72, C92
Suggested Citation: Suggested Citation