TY - JOUR
T1 - Multi-dimensional iterative reasoning in action
T2 - The case of the Colonel Blotto game
AU - Arad, Ayala
AU - Rubinstein, Ariel
PY - 2012
Y1 - 2012
N2 - We introduce a novel decision procedure involving multi-dimensional iterative reasoning, in which a player decides separately on the various features of his strategy using an iterative process. This type of strategic reasoning fits a range of complicated situations in which a player faces a large and non-ordered strategy space. In this paper, the procedure is used to explain the results of a large web-based experiment of a tournament version of the Colonel Blotto game. The interpretation of the participants' choices as reflecting multi-dimensional iterative reasoning is supported by an analysis of their response times and the relation between the participants' behavior in this game and their choices in another game which triggers standard k-level reasoning. Finally, we reveal the most successful strategies in the tournament, which appear to reflect 2-3 levels of reasoning in the two main "dimensions".
AB - We introduce a novel decision procedure involving multi-dimensional iterative reasoning, in which a player decides separately on the various features of his strategy using an iterative process. This type of strategic reasoning fits a range of complicated situations in which a player faces a large and non-ordered strategy space. In this paper, the procedure is used to explain the results of a large web-based experiment of a tournament version of the Colonel Blotto game. The interpretation of the participants' choices as reflecting multi-dimensional iterative reasoning is supported by an analysis of their response times and the relation between the participants' behavior in this game and their choices in another game which triggers standard k-level reasoning. Finally, we reveal the most successful strategies in the tournament, which appear to reflect 2-3 levels of reasoning in the two main "dimensions".
KW - Colonel blotto
KW - Multi-dimensional iterative reasoning
KW - Response time
UR - http://www.scopus.com/inward/record.url?scp=84870676901&partnerID=8YFLogxK
U2 - 10.1016/j.jebo.2012.09.004
DO - 10.1016/j.jebo.2012.09.004
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AN - SCOPUS:84870676901
SN - 0167-2681
VL - 84
SP - 571
EP - 585
JO - Journal of Economic Behavior and Organization
JF - Journal of Economic Behavior and Organization
IS - 2
ER -