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Beliefs and endogenous cognitive levels: An experimental study

Agranov, Marina and Potamites, Elizabeth and Schotter, Andrew and Tergiman, Chloe (2012) Beliefs and endogenous cognitive levels: An experimental study. Games and Economic Behavior, 75 (2). pp. 449-463. ISSN 0899-8256. doi:10.1016/j.geb.2012.02.002.

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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 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.

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Additional Information:© 2012 Elsevier. Received 18 April 2011. Available online 17 February 2012. We thank the Center for Experimental Social Sciences (CESS) at New York University for providing the financial support for this study. We also thank Colin Camerer, Giorgio Coricelli, Vincent Crawford, Nagore Iriberri, Rosemarie Nagel and Stefan Penczynski for very helpful comments.
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New York University Center for Experimental Social SciencesUNSPECIFIED
Subject Keywords:Guessing game; Beliefs; Level-k theory
Issue or Number:2
Classification Code:JEL classification C72; C92; D83
Record Number:CaltechAUTHORS:20160229-135722745
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Official Citation:Marina Agranov, Elizabeth Potamites, Andrew Schotter, Chloe Tergiman, Beliefs and endogenous cognitive levels: An experimental study, Games and Economic Behavior, Volume 75, Issue 2, July 2012, Pages 449-463, ISSN 0899-8256, (
Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:64857
Deposited By: Susan Vite
Deposited On:29 Feb 2016 22:35
Last Modified:10 Nov 2021 23:36

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