Abstract
Games in which players aim to guess a fraction or multiple p of the average guess are known as guessing games or (p -)beauty contests. In this note, we derive a full characterization of the set of rationalizable strategies and the set of pure strategy Nash equilibria for such games as a function of the parameter p, the number of players and the (discrete) set of available guesses to each player. (C) 2017 Elsevier Inc. All rights reserved.
Original language | English |
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Pages (from-to) | 75-88 |
Number of pages | 14 |
Journal | Games and Economic Behavior |
Volume | 106 |
DOIs | |
Publication status | Published - Nov 2017 |
Keywords
- Guessing game
- Beauty contest
- Rationalizability