Carvalho, Daniel; Santos-Pinto, Luís - In: International Journal of Game Theory 43 (2014) 3, pp. 551-577
We apply the cognitive hierarchy model of Camerer et al. (Q J Econ 119(3):861–898, <CitationRef CitationID="CR1 …. We show that a cognitive hierarchy model with quantal responses can explain the most important features of the … success of the model in fitting the data, we compare it to a noisy Nash model. We find that the cognitive hierarchy model with …