Cognitive effort in the beauty contest game

Branas-Garza, Pablo, García-Muñoz, Teresa and Hernán-González, Roberto (2012) Cognitive effort in the beauty contest game. Journal of Economic Behavior & Organization, 83 (2). pp. 254-260. ISSN 0167-2681 (doi:10.1016/j.jebo.2012.05.018)

Abstract

This paper analyzes cognitive effort in 6 different oneshot p-beauty games. We use both Raven and Cognitive Reflection tests to identify subjects’ abilities. We find that the Raven test does not provide any insight on Beauty Contest Game playing but CRT does: subjects with higher scores on this test are more prone to play dominant strategies. The results are confirmed when levels of reasoning instead of entries in the BCG are used.

Item Type: Article
Keywords (uncontrolled): Beauty contest game; raven; cognitive reflection test
Research Areas: A. > Business School > Economics
Item ID: 10221
Depositing User: Pablo Branas Garza
Date Deposited: 26 Mar 2013 06:36
Last Modified: 07 Jun 2018 13:43
URI: https://eprints.mdx.ac.uk/id/eprint/10221

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