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Out of your mind: Eliciting individual reasoning in one shot games
Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
2014 (English)In: Games and Economic Behavior, ISSN 0899-8256, E-ISSN 1090-2473, Vol. 84, 39-57 p.Article in journal (Refereed) Published
Abstract [en]

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.

Place, publisher, year, edition, pages
2014. Vol. 84, 39-57 p.
Keyword [en]
Individual reasoning, One shot games, Level-k model
National Category
Economics and Business
Identifiers
URN: urn:nbn:se:su:diva-103311DOI: 10.1016/j.geb.2013.12.005ISI: 000333852300004OAI: oai:DiVA.org:su-103311DiVA: diva2:717576
Note

AuthorCount:2;

Available from: 2014-05-15 Created: 2014-05-12 Last updated: 2017-12-05Bibliographically approved

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