The authors find that subjects' behavior in an incomplete-information, repeated-game experiment is roughly a sequent ial equilibrium. The deviations from sequential equilibrium can be ex plained by the existence of a "homemade prior" probability (about 1 7 percent) that players will cooperate...

This paper investigates belief learning. Unlike other investigators who have been forced to use observable proxies to approximate unobserved beliefs, we have, using a belief elicitation procedure (proper scoring rule), elicited subject beliefs directly. As a result we were able to perform a more...