Cognitive ability, character skills, and learning to play equilibrium: A level-k analysis
We investigate how cognitive ability and character skills influence the evolution of play toward Nash equilibrium in repeated strategic interactions. We find that more cognitively able subjects choose numbers closer to equilibrium, earn more, and converge more frequently to equilibrium play. We esti...
| Main Authors: | , |
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| Format: | Journal article |
| Language: | English |
| Published: |
University of Chicago Press
2016
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