An experiment on subjective game valuations
Garcia-Gallego, A., Georgantzis, N., Gil-Molto, M. J. and Orts-Rios, V. (2006) An experiment on subjective game valuations. Economics Bulletin, 3. pp. 1-6. ISSN 1545-2921
We report experimental results on a prisoners' dilemma implemented in a way which allows us to elicit incentive−compatible valuations of the game. We test the hypothesis that players' valuations coincide with their Nash equilibrium earnings. Our results offer significantly less support for this hypothesis than for the prediction of Dominant Strategy (DS) play.