%0 Generic
%A Andrea, Morone
%A Piergiuseppe, Morone
%D 2008
%F mpra:9584
%K Guessing game; p-beauty contest; individual behaviour
%T Boundary and interior equilibria: what drives convergence in a ‘beauty contest’?
%U https://mpra.ub.uni-muenchen.de/9584/
%X We present an experimental game in the p-beauty framework. Building on the definitions of boundary and interior equilibria, we distinguish between ‘speed of convergence towards the game-theoretic equilibrium’ and ‘deviations of the guesses from the game-theoretic equilibrium’. In contrast to earlier findings (Güth et al., 2002), we show, under a different game parameterisation, that (i) interior equilibria initially produce smaller deviation of the guesses from the game-theoretic equilibrium compared to boundary equilibria; (ii) interior and boundary equilibria do not differ in the timeframe needed for convergence; (iii) the speed of convergence is higher in the boundary equilibrium.