Anchored strategic reasoning

We propose a model whereby players’ beliefs about the opponents’ reasoning are anchored to an irrelevant number. The model predicts that strategies are adjusted toward the anchor if they are complements. If strategies are substitutes, adjustments away are also possible. •An anchor may influence choi...

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Veröffentlicht in:	Economics letters 2022-03, Vol.212, p.110330, Article 110330
Hauptverfasser:	Ivanova-Stenzel, Radosveta, Seres, Gyula
Format:	Artikel
Sprache:	eng
Schlagworte:	Anchoring bias Auctions Cognition & reasoning Games Incomplete information Mathematical models Predictions Strategy
Online-Zugang:	Volltext
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