Cornand, Camille; Heinemann, Frank - In: Journal of Economic Studies 42 (2015) 6, pp. 1005-1028
of reasoning. They respond in a rational way to the non-strategic part of a game and they account for other players … effects of public information under such limited levels of reasoning. Findings – In the model by Morris and Shin (2002) public … information is always welfare improving if strategies are derived from such low reasoning levels. The optimal degree of publicity …