Kocher, Martin; Sutter, Matthias; Wakolbinger, Florian - In: Southern Economic Journal 80 (2014) 3, pp. 586-613
We study the impact of social learning on the depth of reasoning in an experimental beauty-contest game. Naive advice and observation of others' decisions as two forms of social learning trigger faster convergence to the equilibrium. We find that subjects who receive advice outperform uninformed...