Breitmoser, Yves; Tan, Jonathan H.W.; Zizzo, Daniel John - In: Games and Economic Behavior 86 (2014) C, pp. 102-125
) and a unique level-k prediction as k approaches infinity. The convergence paths of QRE and level-k are different, but they … take the QRE or the level-k learning path. We estimate transitions between level-k and QRE belief rules using Markov …-switching rule learning models. The analysis reveals that subjects take the level-k learning path and that they advance gradually …