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20202022
most citedThe importance of being discrete: on the inaccuracy of continuous approximations in auction theory

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econ.GN2021

Going... going... wrong: a test of the level-k (and cognitive hierarchy) models of bidding behaviour

Itzhak Rasooly

In this paper, we design and implement an experiment aimed at testing the level-k model of auctions. We begin by asking which (simple) environments can best disentangle the level-k…