Beliefs and endogenous cognitive levels: An experimental study

Marina Agranov, Elizabeth Potamites, Andrew Schotter, Chloe Tergiman

Research output: Contribution to journalArticlepeer-review

32 Scopus citations

Abstract

In this paper we use a laboratory setting to manipulate our subjects' 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 subject's true cognitive level may be different than the one he exhibits in a game with the difference being attributed to his expectations about the sophistication of the players he is playing against.

Original languageEnglish (US)
Pages (from-to)449-463
Number of pages15
JournalGames and Economic Behavior
Volume75
Issue number2
DOIs
StatePublished - Jul 2012

All Science Journal Classification (ASJC) codes

  • Finance
  • Economics and Econometrics

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