@article{ba5a26bff10145dca8bb685e25596ea4,
title = "Travelers' types",
abstract = "This paper uses subjects' diverse self-reported justifications to explain discrepancies between observed heterogeneous behavior and the unique equilibrium prediction in a one-shot traveler's dilemma experiment. Principal components analysis suggests that iterative reasoning, aspiration levels, competitive behavior, attitudes towards risk and penalties and focal points may be behind different choices. Such reasons are coherent with same subjects' behavior in other tests and experiments in which these particular issues are prominent, and thus, we identify {"} types{"} of subjects. Overall, we conclude that subjects' self-justifications in complex strategic situations contain informational value which may be used to predict behavior in other situations of economic importance.",
keywords = "Experiments, Principal components, Self-reports, Traveler's dilemma",
author = "Pablo Bra{\~n}as-Garza and Espinosa, {Mar{\'i}a Paz} and P. Rey-Biel",
note = "Funding Information: We thank Jose Apesteguia, Miguel A. Ballester, Jordi Brandts, Vincent P. Crawford, Teresa Garc{\'i}a, Ignacio Palacios-Huerta, Albert Satorra, two editors, a referee and seminar participants at the ESA Meetings 2006, Barcelona JOCS, University of Stockholm and Universitat Autonoma de Barcelona for their comments. We are indebted to Ram{\'o}n Cobo-Reyes and Rafael L{\'o}pez del Paso for their help in running the experiments and to Andere Botas and Pedro Serrano for coding subjects{\textquoteright} comments. Financial support from Ministerio de Educaci{\'o}n y Ciencia (SEJ2007-62081/ECON, ECO2009-09120, ECON2009-0716, ECO2010-17049 and Consolider-Ingenio CSD2006-00016), Junta de Andaluc{\'i}a (P07-SEJ-02547), Gobierno Vasco (IT-313-07), I. Mujer (2007.031) and the Barcelona GSE Research Network and of the Government of Catalonia (2009SGR-00169). ",
year = "2011",
month = apr,
doi = "10.1016/j.jebo.2010.12.005",
language = "English",
volume = "78",
pages = "25--36",
journal = "Journal of Economic Behavior and Organization",
issn = "0167-2681",
publisher = "Elsevier B.V.",
number = "1-2",
}