Tracking Card Plays in a Card Game Biased by “Marked Cards”

The experiment is concerned with individual choice-behavior in resolving discrepancies in a three-choice card game between long-term (a priori) probabilities and immediate outcomes maximally biased by E‘s use of “marked” cards. S's ability to track changes in outcomes was indicated by within-condition card play strategy. Despite S‘s ability to track outcome changes, results show S's choice-behavior is only partially affected by immediate outcomes as maximal bias does not repeal the control exerted by long-term probabilities. The discussion considers the appropriateness of explanations derived from game theory in characterizing choice-behavior. It is suggested that game theory predicts boundary conditions for card play use rather than a normative strategy

Cognitive psychology · Economics · Game theory · Mathematical economics · Normative · Outcome (game theory · Term (time · Tracking (education · Decision-Making and Behavioral Economics · Experimental Behavioral Economics Studies · Game Theory and Applications · Psychology · Social Psychology