Dataset
Data and Code for: Consistent Depth of Reasoning in Level-k Models
ICPSR - Interuniversity Consortium for Political and Social Research
2024
DOI: 10.3886/e195045v1
Abstract
Level-k models often assume that individuals employ a fixed depth of reasoning across different games. We study this assumption by having subjects make choices in five classes of games chosen to identify inconsistent depth of reasoning. We demonstrate that depth of reasoning is pervasively inconsistent, changing both within and between classes of games. We show that this cannot easily be explained by factors such as subject confusion, changing beliefs about others’ depth of reasoning, stochastic choice, model misspecification, changing incentives, or low cognitive ability. We develop a simple model incorporating ambiguity aversion that predicts inconsistent depth of reasoning.
Details
- Title: Subtitle
- Data and Code for: Consistent Depth of Reasoning in Level-k Models
- Creators
- David J. Cooper - University of IowaEnrique Fatas - Universidad EuropeaAntonio Morales - Universidad de MálagaShi Qi - William & Mary
- Resource Type
- Dataset
- DOI
- 10.3886/e195045v1
- Publisher
- ICPSR - Interuniversity Consortium for Political and Social Research
- Grant note
- PID2021-127736NB-I00 / Spanish Ministry of Science
- Language
- English
- Date published
- 2024
- Academic Unit
- Economics
- Record Identifier
- 9984736746902771
Metrics
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