TY - JOUR
T1 - Beliefs and endogenous cognitive levels
T2 - An experimental study
AU - Agranov, Marina
AU - Potamites, Elizabeth
AU - Schotter, Andrew
AU - Tergiman, Chloe
N1 - Funding Information:
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.
PY - 2012/7
Y1 - 2012/7
N2 - 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.
AB - 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.
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U2 - 10.1016/j.geb.2012.02.002
DO - 10.1016/j.geb.2012.02.002
M3 - Article
AN - SCOPUS:84860633933
SN - 0899-8256
VL - 75
SP - 449
EP - 463
JO - Games and Economic Behavior
JF - Games and Economic Behavior
IS - 2
ER -