Is response time predictive of choice? An experimental study of threshold strategies

Andrew Schotter, Isabel Trevino

    Research output: Contribution to journalArticle

    Abstract

    This paper investigates the usefulness of non-choice data, namely response times, as a predictor of threshold behavior in a simple global game experiment. Our results indicate that the signals associated to the highest or second highest response time at the beginning of the experiment are both unbiased estimates of the threshold employed by subjects at the end of the experiment. This predictive ability is lost when we move to the third or higher response times. Moreover, the response time predictions are better than the equilibrium predictions of the game. They are also robust, in the sense that they characterize behavior in an “out-of-treatment” exercise where we use the strategy method to elicit thresholds.

    Original languageEnglish (US)
    JournalExperimental Economics
    DOIs
    StateAccepted/In press - 2020

    Keywords

    • Global games
    • Response time
    • Threshold strategies

    ASJC Scopus subject areas

    • Economics, Econometrics and Finance (miscellaneous)

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