Harsanyi (1967- 1968) so that players can have a nite depth of reasoning. We do this restricting the set of events that a … environments with players with a nite depth of reasoning. We demonstrate that the standard approach of modeling beliefs with … of reasoning, which is not always consistent with experimental evidence. This paper generalizes the type spaces of …

Harsanyi (1967-1968) so that players can have a finite depth of reasoning. We do this restricting the set of events that a … environments with players with a finite depth of reasoning. We demonstrate that the standard approach of modeling beliefs with … of reasoning, which is not always consistent with experimental evidence. This paper generalizes the type spaces of …

In an important paper, Weinstein and Yildiz (2007) show that if players have an infinite depth of reasoning and this is … that this result does not extend to environments where players may have a finite depth of reasoning, or think it is … possible that the other player has a finite depth of reasoning, or think that the other player may think that is possible, and …

In an important paper, Weinstein and Yildiz (2007) show that if players have an infinite depth of reasoning and this is … that this result does not extend to environments where players may have a finite depth of reasoning, or think it is … possible that the other player has a finite depth of reasoning, or think that the other player may think that is possible, and …

In an important paper, Weinstein and Yildiz (2007) show that if players have an infinite depth of reasoning and this is … that this result does not extend to environments where players may have a finite depth of reasoning, or think it is … possible that the other player has a finite depth of reasoning, or think that the other player may think that is possible, and …

Harsanyi (1967-1968) so that players can have a finite depth of reasoning. We do this restricting the set of events that a … environments with players with a finite depth of reasoning. We demonstrate that the standard approach of modeling beliefs with … of reasoning, which is not always consistent with experimental evidence. This paper generalizes the type spaces of …

spaces of Harsanyi (1967-1968) to model that players can have a finite depth of reasoning. The innovation is that players can … events of lower orders, making it possible for players to reason about them, even if they have a finite depth of reasoning. … their opponents' beliefs about their opponents' beliefs and so on, that is, as if players have an infinite depth of …

, in this framework the player's "depth of reasoning" is endogenously determined, and it can be disentangled from his … depth of reasoning is a function of the player's cognitive abilities and his payoffs. The costs are exogenous and represent … determined by the individual's depth of reasoning and his beliefs about the reasoning process of the opponent. Thus, in our …