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- W2284207911 abstract "Abstract Experimental tests of choice predictions in one-shot games show only little support for Nash equilibrium (NE). Poisson Cognitive Hierarchy (PCH) and level-k (LK) are behavioral models of the thinking-steps variety where subjects differ in the number of levels of iterated reasoning they perform. Camerer et al. (2004) claim that substituting the Poisson parameter τ = 1.5 yields a parameter-free PCH model (pfPCH) which predicts experimental data considerably better than NE. We design a new multi-person game, the Minimizer Game, as a testbed to compare initial choice predictions of NE, pfPCH and LK. Data obtained from two large-scale online experiments strongly reject NE and LK, but are well in line with the point-prediction of pfPCH." @default.
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- W2284207911 date "2016-10-01" @default.
- W2284207911 modified "2023-09-23" @default.
- W2284207911 title "Cognitive hierarchies in the minimizer game" @default.
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- W2284207911 doi "https://doi.org/10.1016/j.jebo.2016.08.004" @default.
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