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Experimental Evidence on Iterated Reasoning in Games

We present experimental evidence on two forms of iterated reasoning in games, i.e. backward induction and interactive knowledge. Besides reliable estimates of the cognitive skills of the subjects, our design allows us to disentangle two possible explanations for the observed limits in performed iter...

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Detalles Bibliográficos
Autores principales: Grehl, Sascha, Tutić, Andreas
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Public Library of Science 2015
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4552469/
https://www.ncbi.nlm.nih.gov/pubmed/26312486
http://dx.doi.org/10.1371/journal.pone.0136524
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author Grehl, Sascha
Tutić, Andreas
author_facet Grehl, Sascha
Tutić, Andreas
author_sort Grehl, Sascha
collection PubMed
description We present experimental evidence on two forms of iterated reasoning in games, i.e. backward induction and interactive knowledge. Besides reliable estimates of the cognitive skills of the subjects, our design allows us to disentangle two possible explanations for the observed limits in performed iterated reasoning: Restrictions in subjects’ cognitive abilities and their beliefs concerning the rationality of co-players. In comparison to previous literature, our estimates regarding subjects’ skills in iterated reasoning are quite pessimistic. Also, we find that beliefs concerning the rationality of co-players are completely irrelevant in explaining the observed limited amount of iterated reasoning in the dirty faces game. In addition, it is demonstrated that skills in backward induction are a solid predictor for skills in iterated knowledge, which points to some generalized ability of the subjects in iterated reasoning.
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spelling pubmed-45524692015-09-01 Experimental Evidence on Iterated Reasoning in Games Grehl, Sascha Tutić, Andreas PLoS One Research Article We present experimental evidence on two forms of iterated reasoning in games, i.e. backward induction and interactive knowledge. Besides reliable estimates of the cognitive skills of the subjects, our design allows us to disentangle two possible explanations for the observed limits in performed iterated reasoning: Restrictions in subjects’ cognitive abilities and their beliefs concerning the rationality of co-players. In comparison to previous literature, our estimates regarding subjects’ skills in iterated reasoning are quite pessimistic. Also, we find that beliefs concerning the rationality of co-players are completely irrelevant in explaining the observed limited amount of iterated reasoning in the dirty faces game. In addition, it is demonstrated that skills in backward induction are a solid predictor for skills in iterated knowledge, which points to some generalized ability of the subjects in iterated reasoning. Public Library of Science 2015-08-27 /pmc/articles/PMC4552469/ /pubmed/26312486 http://dx.doi.org/10.1371/journal.pone.0136524 Text en © 2015 Grehl, Tutić http://creativecommons.org/licenses/by/4.0/ This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are properly credited.
spellingShingle Research Article
Grehl, Sascha
Tutić, Andreas
Experimental Evidence on Iterated Reasoning in Games
title Experimental Evidence on Iterated Reasoning in Games
title_full Experimental Evidence on Iterated Reasoning in Games
title_fullStr Experimental Evidence on Iterated Reasoning in Games
title_full_unstemmed Experimental Evidence on Iterated Reasoning in Games
title_short Experimental Evidence on Iterated Reasoning in Games
title_sort experimental evidence on iterated reasoning in games
topic Research Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4552469/
https://www.ncbi.nlm.nih.gov/pubmed/26312486
http://dx.doi.org/10.1371/journal.pone.0136524
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