The neuroeconomics of depth of strategic reasoning

Giorgio Coricelli () and Rosemarie Nagel

History of Economic Ideas, 2010, vol. 18, issue 1, 123-132

Abstract: Bounded rational behaviour is commonly observed in experimental games and in real life situations. Neuroeconomics can help to understand the mental processing underlying bounded rationality and out-of-equilibrium behaviour. Here we report results from a recent study on the neural basis of limited steps of reasoning in a competitive setting – the beauty contest game. We describe how a cognitive hierarchy model fits both behavioural and brain data.

Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:hid:journl:v:18:y:2010:1:6:p:123-132

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