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More than Meets the Eye: an Eye-tracking Experiment on the Beauty Contest Game

Müller, Julia and Schwieren, Christiane

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Abstract

The beauty contest game has been used to analyze how many steps of reasoning subjects are able to perform. A common finding is that a majority seem to have low levels of reasoning. We use eye-tracking to investigate not only the number chosen in the game, but also the strategies in use and the numbers contemplated. We can show that not all cases that are seemingly level-1 or level-2 thinking indeed are {they might be highly sophisticated adaptations to beliefs about other people's limited reasoning abilities.

Item Type: Working paper
Date Deposited: 22 Sep 2011 13:28
Date: 2011
Faculties / Institutes: The Faculty of Economics and Social Studies > Alfred-Weber-Institut for Economics
Subjects: 330 Economics
Uncontrolled Keywords: beauty contest game , levels of reasoning , level-k model , strategic reason ing , cognitive hierarchy
Schriftenreihe ID: Discussion Paper Series / University of Heidelberg, Department of Economics
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