| Summary: | 碩士 === 國立政治大學 === 經濟學系 === 100 === The purpose of this paper is to explore possible relationships between individual differences in working memory capacity (WMC) and behavioral heterogeneity
revealed in a repeated beauty contest experiment. We use ‘experience-weighted attraction’ (EWA) learning, to describe the decision-making and learning behavior of
subjects in the beauty contest game (BCG) experiment. In the intelligence section, the level of the experiment from the working memory capacity score, to represent the
intelligence high or low.
We found high and low intelligent of the subject's initial attract allocated all its similar to the first period choice. In parameter estimation of ψ, due to the initial
attraction of low intelligence subject is less similar to the choice of the following periods. According to theory,ψ of the low intelligence subjects will decrease faster,
and the estimate of the results also show that. In addition, part of δ, high intelligence subjects was larger than the low intelligent subjects, which means that subjects of high intelligence, more sensitive to lost revenue. We think that may be implied the higher intelligent subjects are higher cognitive hierarchy. The sensitivity of players to attractions λ, we found that these two types of intelligent is not much difference. This
means that the impact of the sensitivity of players to attractions, may not be from the intelligent level. By the empirical results, we can find the relationship between
behavioral heterogeneity and intelligence, so we suggests that it may be incorporated into the intelligent as the main research.
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