Apakah Agen Ekonomi Rasional? Sebuah Eksperimen Ekonomi dengan Beauty Contest Game

Authors

  • Bambang Siswanto Fakultas Ekonomi dan Bisnis, Universitas Kristen Krida Wacana

Keywords:

Beauty Contest Game, rationality of economic agent, experimental economic

Abstract

The rationality of economic agents is an axiom of microeconomics. Disagreements about the rationality of economic agent continue to increase in line with developments in the use of experimental economic methods. The research problem is whether there is an increase in the rationality of economic agent when faced with the same and repeated decision-making situations. Data collection using the experimental method with p-BCG (Beauty Contest Game). Data analysis using descriptive statistical techniques. The results showed the subject carried out a numerical cognitive learning process in repeated experiments with the same treatment. In conclusion, the rationality of economic agent increases in the same and repeated decision-making situations.

References

Brocas, I., & Carillo, J.D. (2020). The Evolution of Choice and Learning in the Two-Person Beauty Contest Game from Kindergarten to Adulthood. Games and Economic Behavior, 120, 132-143.

Duffy, J., & Nagel, R. (1997). On the Robustness of Behaviour in Experimental ‘Beauty Contest’ Games. The Economic Journal, 107, 1684-1700.

Grosskopf, B., & Nagel, R. (2008). The Two-Person Beauty Contest. Games and Economic Behavior, 62, 93-99.

Kocher, M.G., & Sutter, M. (2005). The Decision Maker Matters: Individual Versus Group Behaviour in Experimental Beauty-Contest Games. The Economic Journal, 115, 200-223.

Kocher, M., Sutter, M., & Wakolbinger, F. (2014). Social Learning in Beauty-Contest Game. Southern Economic Journal, 80(3), 586-613.

Loewen, P.J., Hinton, K., & Sheffer, L. (2015). Beauty Contest and Strategic Voting. Electoral Studies, 38, 38-45.

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Published

2021-03-29

Issue

Vol. 8 No. 1: Februari 2021

Section

Articles

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