caa a22 4500 477048552 CHVBK 20180405111336.0 cr unu---uuuuu 170330e19961201xx s 000 0 eng 10.1007/BF01803953 doi (NATIONALLICENCE)springer-10.1007/BF01803953 Economical experiments: Bayesian efficient experimental design [Elektronische Daten] [Mahmoud El-Gamal, Thomas Palfrey] We propose and implement a Bayesian optimal design procedure. Our procedure takes as its primitives a class of parametric models of strategic behavior, a class of games (experimental designs), and priors on the behavioral parameters. We select the experimental design that maximizes the information from the experiment. We sequentially sample with the given design and models until only one of the models has viable posterior odds. A model which has low posterior odds in a small collection of models will have an even lower posterior odds when compared to a larger class, and hence we can dismiss it. The procedure can be used sequentially by introducing new models and comparing them to the models that survived earlier rounds of experiments. The emphasis is not on running as many experiments as possible, but rather on choosing experimental designs to distinguish between models in the shortest possible time period. We illustrate this procedure with a simple experimental game with one-sided incomplete information. Physica-Verlag, 1996 El-Gamal Mahmoud DHSS 228-77, Caltech, 91125, Pasadena, CA, USA aut Palfrey Thomas DHSS 228-77, Caltech, 91125, Pasadena, CA, USA aut International Journal of Game Theory Physica-Verlag 25/4(1996-12-01), 495-517 0020-7276 25:4<495 1996 25 182 https://doi.org/10.1007/BF01803953 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/BF01803953 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- El-Gamal Mahmoud DHSS 228-77, Caltech, 91125, Pasadena, CA, USA aut NATIONALLICENCE 700 1- Palfrey Thomas DHSS 228-77, Caltech, 91125, Pasadena, CA, USA aut NATIONALLICENCE 773 0- International Journal of Game Theory Physica-Verlag 25/4(1996-12-01), 495-517 0020-7276 25:4<495 1996 25 182 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer