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Outline Motivation and Modeling Philosophy Empirical Alternative I: Model of Cognitive Hierarchy (Camerer, Ho, and Chong, QJE, 2004) Empirical Alternative II: Quantal Response Equilibrium (McKelvey and Palfrey, GEB, 1995) Empirical Alternative III: Model of Noisy Introspection (Goeree and Holt, AER, 2001)
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Example 1
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Example 2
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Modeling Principles PrincipleNash CH QRE NI Strategic Thinking Best Response Mutual Consistency
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Model of Noisy Introspection
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Example 2:
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Noisy Introspection Predictions
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Example 3:
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Noisy Introspection Predictions
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Example 4a
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Example 4b
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Noisy Introspection Predictions
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Summary Motivation and Modeling Philosophy Empirical Alternative I: Model of Cognitive Hierarchy (Camerer, Ho, and Chong, QJE, 2004) Empirical Alternative II: Quantal Response Equilibrium (McKelvey and Palfrey, GEB, 1995) Empirical Alternative III: Model of Noisy Introspection (Goeree and Holt, AER, 2001)
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