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Level-k reasoning in contests

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

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    File URL: http://www.sciencedirect.com/science/article/B6V84-4YWC12W-1/2/67893444795d6166c0b76028a9d51924
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    Article provided by Elsevier in its journal Economics Letters.

    Volume (Year): 108 (2010)
    Issue (Month): 2 (August)
    Pages: 149-152

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    Handle: RePEc:eee:ecolet:v:108:y:2010:i:2:p:149-152
    Contact details of provider: Web page: http://www.elsevier.com/locate/ecolet

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    1. Miguel A. Costa-Gomes & Vincent P. Crawford, 2004. "Cognition and Behavior in Two-Person Guessing Games: An Experimental Study," ISER Discussion Paper 0613, Institute of Social and Economic Research, Osaka University.
    2. Klaus Abbink & Jordi Brandts & Benedikt Herrmann & Henrik Orzen, 2007. "Inter-Group Conflict and Intra-Group Punishment in an Experimental Contest Game," Discussion Papers 2007-15, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
    3. Weibull, Jörgen W., 2000. "Testing Game Theory," SSE/EFI Working Paper Series in Economics and Finance 382, Stockholm School of Economics, revised 11 Jan 2001.
    4. Baye, M.R. & Kovenock, D. & De Vries, C.G., 1993. "The Solution to the Tullock Rent-Seeking Game when r>2: Mixed-Strategy Equilibria and Mean Dissipation Rates," Purdue University Economics Working Papers 1039, Purdue University, Department of Economics.
    5. Stahl Dale O. & Wilson Paul W., 1995. "On Players' Models of Other Players: Theory and Experimental Evidence," Games and Economic Behavior, Elsevier, vol. 10(1), pages 218-254, July.
    6. Crawford, Vincent P. & Iriberri, Nagore, 2005. "Level-k Auctions: Can a Non-Equilibrium Model of Strategic Thinking Explain the Winner's Curse and Overbidding in Private-Value Auctions?," University of California at San Diego, Economics Working Paper Series qt12586197, Department of Economics, UC San Diego.
    7. Broseta, Bruno & Costa-Gomes, Miguel & Crawford, Vincent P., 2000. "Cognition and Behavior in Normal-Form Games: An Experimental Study," University of California at San Diego, Economics Working Paper Series qt0fp8278k, Department of Economics, UC San Diego.
    8. Skaperdas, Stergios, 1996. "Contest Success Functions," Economic Theory, Springer, vol. 7(2), pages 283-90, February.
    9. Colin F. Camerer & Teck-Hua Ho & Juin-Kuan Chong, 2004. "A Cognitive Hierarchy Model of Games," The Quarterly Journal of Economics, MIT Press, vol. 119(3), pages 861-898, August.
    10. Nagel, Rosemarie, 1995. "Unraveling in Guessing Games: An Experimental Study," American Economic Review, American Economic Association, vol. 85(5), pages 1313-26, December.
    11. Baye, M.R. & Kovenock, D., 1993. "The Solution of the Tullock Rent-Seeking Game when R > 2 : Mixed-Strategy Equilibria and Mean Dissipation Rates," Discussion Paper 1993-68, Tilburg University, Center for Economic Research.
    12. Stahl, Dale II & Wilson, Paul W., 1994. "Experimental evidence on players' models of other players," Journal of Economic Behavior & Organization, Elsevier, vol. 25(3), pages 309-327, December.
    13. Holt, Charles A & Sherman, Roger, 1994. "The Loser's Curse," American Economic Review, American Economic Association, vol. 84(3), pages 642-52, June.
    14. Perez-Castrillo, J David & Verdier, Thierry, 1992. " A General Analysis of Rent-Seeking Games," Public Choice, Springer, vol. 73(3), pages 335-50, April.
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