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Beliefs and endogenous cognitive levels: An experimental study.

Games and Economic Behavior, no. 2 (2012): 449-463

Cited: 75|Views39
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In this paper we use a laboratory setting to manipulate our subjectsʼ beliefs about the cognitive levels of the players they are playing against. We show that in the context of the 2/3 guessing game, individual choices crucially depend on their beliefs about the level of others. Hence, a subjectʼs true cognitive level may be different tha...More

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