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Persistent link: https://www.econbiz.de/10013188653
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,...
Persistent link: https://www.econbiz.de/10012825829