Consider the guessing game where people are choosing numbers between 0 and 100. Choices must be in integers. The aim is to come as close as possible to (1/2) of the average number chosen in the group. Briefly explain the basic idea of the "cognitive hierarchy" model. Define Level Zero thinking as one where everyone picks 100. Explain what you would pick if you thought that everyone in the group will apply two levels of thinking.

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The Answer of Consider the guessing game where people are choosing numbers between 0 and 100. Choices must be in integers. The aim is to come as close as possible to (1/2) of the average number chosen in the group. Briefly explain the basic idea of the "cognitive hierarchy" model. Define Level Zero thinking as one where everyone picks 100. Explain what you would pick if you thought that everyone in the group will apply two levels of thinking.

Consider the Guessing Game Where People Are Choosing Numbers Between