Cognitive ability, character skills, and learning to play equilibrium: A level-k analysis

We investigate how cognitive ability and character skills influence the evolution of play toward Nash equilibrium in repeated strategic interactions. We find that more cognitively able subjects choose numbers closer to equilibrium, earn more, and converge more frequently to equilibrium play. We esti...

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Bibliographic Details
Published in:Journal of political economy 2016-12, Vol.124 (6), p.1619-1676
Main Authors: Gill, David, Prowse, Victoria
Format: Article
Language:English
Subjects:
Ability
Cognition
Cognitive ability
Cognitive functioning
Economic theory
Equilibrium
Experiment
Game theory
Intelligenz (Psychologie)
Kognition
Learning
Lernen
Personality
Personality traits
Political economy
Skills
Spiel
Studies
Theorie
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