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To investigate the relationship between the depth of strategic thinking and social preferences we ask subjects in an experiment to perform dictator games and a guessing game. The guessing game measures depth of strategic thinking while dictator games control for social preferences. When...
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imposing variations on the subject's cost of reasoning and their first- and second-order beliefs. Subjects have systematic …, but often choose a lower-type action due to their beliefs about their opponents. Finally, cognitive ability plays a …
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