Danz, David; Fehr, Dietmar; Kübler, Dorothea - In: Experimental Economics 15 (2012) 4, pp. 622-640
We study beliefs and actions in a repeated normal-form game. Using a level-k model of limited strategic reasoning and … observe more strategic play (increasing by 15 percent) and higher-level beliefs (increasing by 18 percent) over time. Without … feedback, neither beliefs nor actions reach significantly higher levels of reasoning (with increases of 2 percentage points for …