@TechReport{iza:izadps:dp17168,
            	author={Gill, David and Knepper, Zachary and Prowse, Victoria L. and Zhou, Junya},
            	title={How Cognitive Skills Affect Strategic Behavior: Cognitive Ability, Fluid Intelligence and Judgment},
            	year={2024},
	month={Jul},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={17168},
            	url={https://www.iza.org/publications/dp17168},
	abstract={We explore the influence of cognitive ability and judgment on strategic behavior in the beauty contest game (where the Nash equilibrium action is zero). Using the level-k model of bounded rationality, cognitive ability and judgment both predict higher level strategic thinking. However, individuals with better judgment choose zero less frequently, and we uncover a novel dynamic mechanism that sheds light on this pattern. Taken together, our results indicate that fluid (i.e., analytical) intelligence is a primary driver of strategic level-k thinking, while facets of judgment that are distinct from fluid intelligence drive the lower inclination of high judgment individuals to choose zero.},
	keywords={cognitive ability;judgment;fluid intelligence;matrix reasoning;beauty contest;strategic sophistication;level-k;experiment;game theory},
            }