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How Cognitive Skills Affect Strategic Behavior: Cognitive Ability, Fluid Intelligence and Judgment

Gill, David; Knepper, Zachary; Prowse, Victoria L.; … - 2024

We explore the influence of cognitive ability and judgment on strategic behavior in the beauty contest game (where the … Nash equilibrium action is zero). Using the level-k model of bounded rationality, cognitive ability and judgment both … predict higher level strategic thinking. However, individuals with better judgment choose zero less frequently, and we uncover …

Persistent link: https://www.econbiz.de/10015061969

Cognitive Skills and the Development of Strategic Sophistication

Fe, Eduardo; Gill, David - 2018

In this paper we investigate how observable cognitive skills influence the development of strategic sophistication. To answer this question, we study experimentally how psychometric measures of theory-of-mind and cognitive ability (or 'fluid intelligence') work together with age to determine the...

Persistent link: https://www.econbiz.de/10011816598

Cognitive Skills, Strategic Sophistication, and Life Outcomes

Fe, Eduardo; Gill, David; Prowse, Victoria L. - 2020

We investigate how childhood cognitive skills affect strategic sophistication and adult outcomes. In particular, we emphasize the importance of childhood theory-of-mind as a cognitive skill. We collected experimental data from more than seven hundred children in a variety of strategic...

Persistent link: https://www.econbiz.de/10012497802

Strategic Complexity and the Value of Thinking

Gill, David; Prowse, Victoria L. - 2022

Response times are a simple low-cost indicator of the process of reasoning in strategic games. In this paper, we leverage the dynamic nature of response-time data from repeated strategic interactions to measure the strategic complexity of a situation by how long people think on average when they...

Persistent link: https://www.econbiz.de/10013351814

Strategic sophistication of individuals and teams in experimental normal-form games

Sutter, Matthias; Czermak, Simon; Feri, Francesco - 2010

We present an experiment on strategic thinking and behavior of individuals and teams in one-shot normal-form games …

Persistent link: https://www.econbiz.de/10010269696

Cognitive Ability, Character Skills, and Learning to Play Equilibrium: A Level-k Analysis

Gill, David; Prowse, Victoria - 2014

of play towards Nash equilibrium in repeated strategic interactions. We study behavior in a p-beauty contest experiment … ability to that of character skills, and find that both cognition and personality affect behavior and learning. More agreeable …

Persistent link: https://www.econbiz.de/10010377362

Cognitive Ability, Character Skills, and Learning to Play Equilibrium: A Level-k Analysis

Gill, David; Prowse, Victoria L. - Institute for the Study of Labor (IZA) - 2014

Persistent link: https://www.econbiz.de/10010886141

Strategic Sophistication of Individuals and Teams in Experimental Normal-Form Games

Sutter, Matthias; Czermak, Simon; Feri, Francesco - Institute for the Study of Labor (IZA) - 2010

We present an experiment on strategic thinking and behavior of individuals and teams in one-shot normal-form games …

Persistent link: https://www.econbiz.de/10008480923

Comparing Students to Workers : The Effects of Social Framing on Behavior in Distribution Games

Carpenter, Jeffrey P.; Burks, Stephen V.; Verhoogen, Eric A. - 2004

To investigate the external validity of Ultimatum and Dictator game behavior we conduct experiments in field settings with naturally occurring variation in "social framing." Our participants are students at Middlebury College, non-traditional students at Kansas City Kansas Community College...

Persistent link: https://www.econbiz.de/10010276947

Evaluating the Sunk Cost Effect

Ronayne, David; Sgroi, Daniel; Tuckwell, Anthony - 2021

We provide experimental evidence of behavior consistent with the sunk cost effect. Subjects who earned a lottery via a real-effort task were given an opportunity to switch to a dominant lottery; 23% chose to stick with their dominated lottery. The endowment effect accounts for roughly only one...

Persistent link: https://www.econbiz.de/10012597403