Going...going...wrong: a test of the level-k (and cognitive hierarchy) models of bidding behaviour

Going...going...wrong: a test of the level-k (and cognitive hierarchy) models of bidding behaviour

In this paper, we design and implement an experiment aimed at testing the level-k model of auctions. We begin by asking which (simple) environments can best dis entangle the level-k model from its leading rival, Bayes-Nash equilibrium. We find two environments that are particularly suited to this pu...

Полное описание

Библиографические подробности
Главный автор:	Rasooly, I
Формат:	Working paper
Язык:	English
Опубликовано:	University of Oxford 2022

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