Colin Camerer: 2010 S4SN Conference

Behavioral and Neural Evidence of Cognitive Hierarchy Reasoning in Game Theory

Colin Camerer
California Institute of Technology

Games are mathematical snapshots of social life. A recent approach to the study of how people and other entities choose strategies in games is a “cognitive hierarchy” (CH) theory. In CH, players do 0, 1, 2 or more steps of reasoning, anticipating the likely behavior of lower-level players. This model explains many empirical studies in field and lab data, and has support from eyetracking and fMRI studies.

http://www.hss.caltech.edu/~camerer/camerer.html