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Pré-publication, Document de travail Année : 2018

Inclusive Cognitive Hierarchy in Collective Decisions

Résumé

We study the implications of structural models of non-equilibrium thinking, in which players best respond while holding heterogeneous beliefs on the cognitive levels of others. We introduce an inclusive cognitive hierarchy model, in which players are capable of projecting the self to others in regard to their cognitive level. The model is tested in a laboratory experiment of collective decision-making, which supports inclusiveness. Our theoretical results show that inclusiveness is a key factor for asymptotic properties of deviations from equilibrium behavior. Asymptotic behavior can be categorized into three distinct types: naïve, Savage rational with inconsistent beliefs, and sophisticated.
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Dates et versions

halshs-01822543, version 1 (25-06-2018)

Identifiants

  • HAL Id : halshs-01822543 , version 1

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Yukio Koriyama, Ali Ihsan Ozkes. Inclusive Cognitive Hierarchy in Collective Decisions. 2018. ⟨halshs-01822543⟩
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Dernière date de mise à jour le 13/04/2024
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