journal contribution posted on 17.08.2018, 09:05 by Eva M. Krockow, Briony D. Pulford, Andrew M. Colman
The sequential Centipede game models repeated reciprocal interaction, in which two players alternate in choosing between cooperation and defection. In an attempt to increase the game's applicability to real-life decision contexts, we investigated the effects of game length and termination rules on cooperation in the Centipede game. We found that increasing the game length from 8 to 20 decision nodes increased cooperation, but only if the game's end was known to participants. Games with unknown ends manifested lower cooperation levels without an endgame effect (increased defection immediately before a known end). Random game termination by the computer appeared to increase the percentage of games adhering to the Nash equilibrium outcome mandated by game theory, and generally lowered cooperation levels.
The research reported in this article was supported by an award to the first author from Friedrich Naumann Stiftung für die Freiheit, and from the Leicester Judgment and Decision Making Endowment fund (Grant No. RM43G0176) to the second and third authors. The authors are grateful to Kevin McCracken for help with software development.
CitationJournal of Economic Psychology, 2018, 67, pp. 191-199
Author affiliation/Organisation/COLLEGE OF LIFE SCIENCES/Biological Sciences/Neuroscience, Psychology and Behaviour
VersionAM (Accepted Manuscript)
Published inJournal of Economic Psychology
PublisherElsevier, International Association for Research in Economic Psychology
NotesThe file associated with this record is under embargo until 18 months after publication, in accordance with the publisher's self-archiving policy. The full text may be available through the publisher links provided above.