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Level-k reasoning in contests

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  • Bernard, Mark

Abstract

We introduce level-k reasoning to contest theory, compare its predictions to those of Nash Equilibrium and relate to the experimental evidence.

Suggested Citation

  • Bernard, Mark, 2010. "Level-k reasoning in contests," Economics Letters, Elsevier, vol. 108(2), pages 149-152, August.
  • Handle: RePEc:eee:ecolet:v:108:y:2010:i:2:p:149-152
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    References listed on IDEAS

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    1. Vincent P. Crawford & Nagore Iriberri, 2007. "Level-k Auctions: Can a Nonequilibrium Model of Strategic Thinking Explain the Winner's Curse and Overbidding in Private-Value Auctions?," Econometrica, Econometric Society, vol. 75(6), pages 1721-1770, November.
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    3. Klaus Abbink & Jordi Brandts & Benedikt Herrmann & Henrik Orzen, 2010. "Intergroup Conflict and Intra-group Punishment in an Experimental Contest Game," American Economic Review, American Economic Association, vol. 100(1), pages 420-447, March.
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    7. Emel Filiz & Erkut Y. Ozbay, 2005. "Auctions with Anticipated Regret," Experimental 0511006, EconWPA.
    8. Weibull, Jörgen W., 2000. "Testing Game Theory," SSE/EFI Working Paper Series in Economics and Finance 382, Stockholm School of Economics, revised 16 Apr 2002.
    9. Baye, M.R. & Kovenock, D., 1993. "The Solution to the Tullock Rent-Seeking Game When R > 2: Mixed Strategy Equilibria and Mean Dissipation Rates," Papers 9368, Tilburg - Center for Economic Research.
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    12. Holt, Charles A & Sherman, Roger, 1994. "The Loser's Curse," American Economic Review, American Economic Association, vol. 84(3), pages 642-652, June.
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    14. Stergios Skaperdas, 1996. "Contest success functions (*)," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 7(2), pages 283-290.
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    Keywords

    Contests Cognitive hierarchy;

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