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We explore the influence of cognitive ability and judgment on strategic behavior in the beauty contest game (where the Nash equilibrium action is zero). Using the level-k model of bounded rationality, cognitive ability and judgment both predict higher level strategic thinking. However,...
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Response times are a simple low-cost indicator of the process of reasoning in strategic games. In this paper, we leverage the dynamic nature of response-time data from repeated strategic interactions to measure the strategic complexity of a situation by how long people think on average when they...
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We present a framework that incorporates both moral motivations and fairness considerations into utility. The main idea … is that individuals face a preference trade-off between their material individual interest and their desire to follow …
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In the current study we explore whether enriching the brain's supply of glucose will improve the quality and speed of decision making. Prior research shows that glucose enrichment supports cognition and more recent research has shown it can improve decision making on some tasks. To test our...
Persistent link: https://www.econbiz.de/10010457825
In this study we test predictions from Unconscious Thought Theory (UTT) that unconscious thought will lead to better decision making in complex decision tasks relative to conscious thought. Different from prior work testing this prediction, we use a method of manipulating conscious and...
Persistent link: https://www.econbiz.de/10011580853