Data and Code for: Consistent Depth of Reasoning in Level-k Models

Principal Investigator(s):  View help for Principal Investigator(s) David J. Cooper, University of Iowa and University of East Anglia; Enrique Fatas, Universidad Europea; Antonio Morales, Universidad de Malaga; Shi Qi, William and Mary

Version:  View help for Version V1

Name File Type Size Last Modified
AAprob.m text/x-matlab 2.6 KB 08/15/2023 02:30:PM
DeltaM.m text/x-matlab 5.3 KB 01/13/2015 10:15:AM
README_CFMQ.pdf application/pdf 70.2 KB 08/15/2023 10:35:AM
data.mat application/x-matlab-data 11 KB 08/15/2023 10:36:AM
data_moment.xlsx application/vnd.openxmlformats-officedocument.spreadsheetml.sheet 26 KB 08/15/2023 07:13:PM
diff_distribution.m text/x-matlab 3.6 KB 12/28/2023 06:32:PM
load_para.m text/x-matlab 9.3 KB 08/16/2023 08:06:AM
main.m text/x-objcsrc 28.2 KB 08/16/2023 09:11:AM
nesolve.m text/x-matlab 657 bytes 12/28/2023 07:17:PM
paraini.mat application/x-matlab-data 2.2 KB 01/05/2024 10:36:AM

Project Citation: 

Cooper, David J., Fatas, Enrique, Morales, Antonio, and Qi, Shi . Data and Code for: Consistent Depth of Reasoning in Level-k Models. Nashville, TN: American Economic Association [publisher], 2024. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2024-10-09. https://doi.org/10.3886/E195045V1

Project Description

Summary:  View help for Summary Level-k models often assume that individuals employ a fixed depth of reasoning across different games. We study this assumption by having subjects make choices in five classes of games chosen to identify inconsistent depth of reasoning. We demonstrate that depth of reasoning is pervasively inconsistent, changing both within and between classes of games. We show that this cannot easily be explained by factors such as subject confusion, changing beliefs about others’ depth of reasoning, stochastic choice, model misspecification, changing incentives, or low cognitive ability. We develop a simple model incorporating ambiguity aversion that predicts inconsistent depth of reasoning.
Funding Sources:  View help for Funding Sources Spanish Ministry of Science (PID2021-127736NB-I00)

Scope of Project

JEL Classification:  View help for JEL Classification
      C72 Noncooperative Games
      C91 Design of Experiments: Laboratory, Individual
      D00 Microeconomics: General


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V1 [2024-10-09]

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