k-level process described by the authors. We replicated their game in our baseline experiment and provided two other … variations that retained the same mixed-strategy equilibrium but resulted in different predicted behavior by the k-level process …. Our experiments results suggest that k-level process leads to inconsistent predictions. In contrast to the standard k-level …

k-level process described by the authors. We replicated their game in our baseline experiment and provided two other … variations that retained the same mixed-strategy equilibrium but resulted in different predicted behavior by the k-level process …. Our experiments results suggest that k-level process leads to inconsistent predictions. In contrast to the standard k-level …

simple K-level reasoning models. We discuss how non-trivial game characteristics related to risk aversion, efficiency …