Beliefs and endogenous cognitive levels: An experimental study

Marina Agranov; Elizabeth Potamites; Andrew Schotter; Chloe Tergiman

doi:10.1016/j.geb.2012.02.002

Beliefs and endogenous cognitive levels: An experimental study

Marina Agranov
, Elizabeth Potamites
, Andrew Schotter
, Chloe Tergiman

Risk Management

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62 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 language	English (US)
Pages (from-to)	449-463
Number of pages	15
Journal	Games and Economic Behavior
Volume	75
Issue number	2
DOIs	https://doi.org/10.1016/j.geb.2012.02.002
State	Published - Jul 2012

All Science Journal Classification (ASJC) codes

Finance
Economics and Econometrics

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10.1016/j.geb.2012.02.002

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title = "Beliefs and endogenous cognitive levels: An experimental study",

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.",

author = "Marina Agranov and Elizabeth Potamites and Andrew Schotter and Chloe Tergiman",

note = "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.",

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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

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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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UR - https://www.scopus.com/pages/publications/84860633933#tab=citedBy

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DO - 10.1016/j.geb.2012.02.002

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SP - 449

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JO - Games and Economic Behavior

JF - Games and Economic Behavior

IS - 2

ER -

Beliefs and endogenous cognitive levels: An experimental study

Abstract

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