Working paper
Cognitive ability, character skills, and learning to play equilibrium: a level-k analysis
- Abstract:
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In this paper we investigate how cognitive ability and character skills influence behavior, success and the evolution of play towards Nash equilibrium in repeated strategic interactions. We study behavior in a p-beauty contest experiment and find striking differences according to cognitive ability: more cognitively able subjects choose numbers closer to equilibrium, converge more frequently to equilibrium play and earn more even as behavior approaches the equilibrium prediction. To understa...
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- Publication status:
- Published
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Authors
Bibliographic Details
- Publisher:
- University of Oxford Publisher's website
- Series:
- Department of Economics Discussion Paper Series
- Publication date:
- 2014-06-12
- Pubs id:
-
601306
- Local pid:
- pubs:601306
- Paper number:
- 712
Item Description
Terms of use
- Copyright date:
- 2014
- Rights statement:
- Copyright 2014 The Author(s)
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