Affordable Access

Publisher Website

Out of your mind: Eliciting individual reasoning in one shot games

Authors
Journal
Games and Economic Behavior
0899-8256
Publisher
Elsevier
Volume
84
Identifiers
DOI: 10.1016/j.geb.2013.12.005
Keywords
  • Individual Reasoning
  • One Shot Games
  • Level-Kmodel
Disciplines
  • Design

Abstract

Abstract We experimentally investigate the fundamental element of the level-k model of reasoning, the level-0 actions and beliefs. We use data from a novel experimental design that allows us to obtain incentivised written accounts of individuals' reasoning. In particular, these accounts allow to infer level-0 beliefs. Level-0 beliefs are not significantly different from 50, and almost 60% of higher level players start their reasoning from a level-0 belief of exactly 50. We also estimate that around one third of the participants play non-strategically. The non-strategic level-0 actions are not uniformly distributed.

There are no comments yet on this publication. Be the first to share your thoughts.

Statistics

Seen <100 times
0 Comments

More articles like this

One shot.

on Journal of general internal me... June 2014

Of one mind.

on American Heart Journal January 1975
More articles like this..