Sutter, Matthias; Czermak, Simon; Feri, Francesco - Institute for the Study of Labor (IZA) - 2010
. Besides making choices, decision makers have to state their first- and second-order beliefs. We find that teams play the Nash … strategy significantly more often, and their choices are more often consistent by being a best reply to first order beliefs. We … to textbook rationality. Using a mixture model, the estimated probability to play strategically is 62% for teams, but …