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An experiment on a multi-period beauty contest game

new publication with uol affiliation 04

Abstract
We present and conduct a novel experiment on a multi-period beauty contest game. Leveraging the multi-period feature, we investigate how participants revise their forecasts in periods when new information—such as shocks or announcements—arrives and how they form their expectations in the absence of new information. We make two key contributions. First, we develop a new method based on forecast revisions to evaluate whether participants behave in a forward-looking manner.

References
Hanaki, N., & Takahashi, Y. (2026). An experiment on a multi-period beauty contest game. Experimental Economics. Forthcoming.

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