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Securing victory or not? Surrendering optimal play when facing simple calculations: a natural experiment from the Swedish and US Jeopardy
Stockholm University, Faculty of Social Sciences, The Swedish Institute for Social Research (SOFI).
Stockholm University, Faculty of Social Sciences, The Swedish Institute for Social Research (SOFI).
2012 (English)In: Applied Economics, ISSN 0003-6846, E-ISSN 1466-4283, Vol. 44, no 6, 777-783 p.Article in journal (Refereed) Published
Abstract [en]

This article empirically investigates the common assumption of economicagents' capabilities to process complex mathematical problems to findoptimal strategies applied in economic modelling. By exploiting a designdifference in the game show Jeopardy between the US and Sweden, weobtain a natural experiment of individuals facing an optimization decisioneither having explicit information or deriving it by noncomplex adding andsubtracting. Given the assumption that individuals compute optimally,there should be no difference in the strategies used. Yet, the results showthat even a small change in informational pre-conditions for obtaining anoptimal strategy strongly alters economic-decision making.

Place, publisher, year, edition, pages
2012. Vol. 44, no 6, 777-783 p.
National Category
Economics
Identifiers
URN: urn:nbn:se:su:diva-74904DOI: 10.1080/00036846.2010.522525ISI: 000301534400009OAI: oai:DiVA.org:su-74904DiVA: diva2:512901
Available from: 2012-03-29 Created: 2012-03-29 Last updated: 2017-12-07Bibliographically approved

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Sjögren Lindquist, GabriellaSäve-Söderbergh, Jenny
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