The paper is organized as follows. The next section describes
the model. Section III collects some theoretical results. Section IV
reports estimation of the τ parameter from six classes of games.
Section V explores the “economic value” of C…Another possibility is to assume that k-step players realize there are other k-step thinkers (g<sub>k</sub>(k) > 0). Self-awareness of this sort is a step away from the goal of creating a precise disequilibrium theory, because it imposes co…a. HCW (98) is Ho, Camerer, Weigelt AER 98; CHC are new data from Camerer, Ho, and Chong; CHW is Camerer, Ho, Weigelt (unpublished); Kovalchik is data reported by Kovalchik et al. [in press].
values derived from simple axioms mentioned abo…
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