One, Two, (Three), Infinity: Newspaper and Lab Beauty-Contest Experiments

摘要: Beauty-contest" is a game in which participants have to choose, typically, number [0,100], the winner being person whose closest proportion of average all chosen numbers. We describe and analyze Beauty-contest experiments run newspapers UK, Spain, Germany find stable patterns behavior across them, despite uncontrollability these experiments. These results are then compared with lab involving undergraduates theorists as subjects, what must be one largest empirical corroborations interactive ever tried. claim that observed behavior, wide variety treatments subject pools, can interpreted iterative reasoning. Level-1 reasoning, Level-2 reasoning Level-3 commonly samples, while equilibrium choice (Level-Maximum reasoning) only prominently by newspaper readers theorists. The show power large subject-pools, open door for more experimental work performed on rich platform offered magazines.