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present study investigated whether strategic decision-making, as measured by the beauty contest game, is associated with … positively related to successful strategic decision-making. Furthermore, results showed a curvilinear relationship between steps …
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Many papers have reported behavioral biases in belief formation that come on top of standard game-theoretic reasoning. We show that the processes involved depend on the way participants reason about their beliefs. When they think about what everybody else or another "unspeci fied" individual is...
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methodologies for understanding decision-making under pressure. In the non-transitive game rock, paper, scissors (RPS), the only … behavior is thought to be outside bounded rationality and so decision-making can become deterministic, predictable, and … cognition literatures, and provides a taxonomy of RPS strategy. RPS strategies are discussed in terms of (a) whether the …
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We explore the influence of cognitive ability and judgment on strategic behavior in the beauty contest game (where the Nash equilibrium action is zero). Using the level-k model of bounded rationality, cognitive ability and judgment both predict higher level strategic thinking. However,...
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