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  • Search: subject:"hierarchical response"
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beauty contest 1 hierarchical response 1 level-k 1 logit equilibrium 1
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Breitmoser, Yves 1
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Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München 1
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Hierarchical Reasoning versus Iterated Reasoning in p-Beauty Contest Guessing Games
Breitmoser, Yves - Volkswirtschaftliche Fakultät, … - 2010
This paper analyzes strategic choice in p-beauty contests. We first show that it is not generally a best reply to guess the expected target value (accounting for the own weight) even in games with n2 players and that iterated best response sequences are not unique even after perfect/cautious...
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