A celebrated result of Abreu and Rubinstein [1] states that in repeated games, when the players are restricted to playing strategies that can be im- plemented by fnite automata and they have lexicographic preferences, the set of equilibrium payoffs is a strict subset of the set of feasible and...

Previous studies have found that subjects with higher CRT scores usually make choices that are closer to Nash equilibrium. In this paper, we disentangle two potential explanations for this finding: it could be that high CRT subjects possess a higher reasoning level, or it could be that their...