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Eugen Kovac, Martin Vojtek and Andreas Ortmann
''Comparing Guessing Games with homogeneous and heterogeneous players: Experimental results and a CH explanation''
( 2008, Vol. 3 No.9 )
We investigate the decisions of individuals in simple and complex environments. We use a version of the Guessing Game (Beauty-contest Game) as a vehicle for our investigation, employing mathematically talented students. We find that our subjects think in complex environments more carefully before making decisions. We rationalize our findings using the Cognitive Hierarchy (CH) model proposed by Camerer, Ho, and Chong (2002). We relate our results to the emerging literature on the decision making of collective actors.
Keywords: Guessing Game
JEL: C9 - Design of Experiments: General
Manuscript Received : Feb 12 2008 Manuscript Accepted : Feb 12 2008

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