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Müller, Julia
Schwieren, Christiane
Year of Publication: 
Series/Report no.: 
Discussion Paper Series No. 516
University of Heidelberg, Department of Economics, Heidelberg
The beauty contest game has been used to analyze how many steps of reasoning subjects are able to perform. A common finding is that a majority seem to have low levels of reasoning. We use eye-tracking to investigate not only the number chosen in the game, but also the strategies in use and the numbers contemplated. We can show that not all cases that are seemingly level-1 or level-2 thinking indeed are {they might be highly sophisticated adaptations to beliefs about other people's limited reasoning abilities.
beauty contest game
levels of reasoning
level-k model
strategic reason ing
cognitive hierarchy
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Working Paper

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