This note investigates a set of dynamic versions of the level-k (LK) and cognitive hierarchy (CH) models in repeated normal-form games. Conventional LK and CH models assume a reasoning process that does not allow learning. This can be a restrictive assumption: When facing a repeated game,...

Using 2.21 million units of data from the National Bureau of Statistics’ China Industrial Enterprises Database, during 1998-2013, we adopt the static panel model and the dynamic panel model to more accurately examine the impact of changes in corporate income tax rates on employment. The...