Out of your mind: Eliciting individual reasoning in one shot games

• 成果类型: Article
• 署名作者: Burchardi, Konrad B.; Penczynski, Stefan P.
• 署名单位: Stockholm University; University of Mannheim
• 刊物名称: GAMES AND ECONOMIC BEHAVIOR
• ISSN/ISSBN: 0899-8256
• DOI: 10.1016/j.geb.2013.12.005
• 发表日期: 2014
• 页码: 39-57
• 关键词: Individual reasoning; One shot games; Level-k model

摘要

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. (C) 2014 Elsevier Inc. All rights reserved.