Role of higher order beliefs in decision making: Inductive approach

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The productions of this project are classified into either theoretical ones and experimental economic ones. In theoretical productions, we propose a framework of dynamic logic for inductive game theory. In addition, we study how the difference of information decision makers obtain makes an impact on decision making and how the social welfare varies.In experimental economic productions, we study how subjects expect asset prices through their experiences and cognitive abilities. This is an application of the theoretical products for experimental asset markets. As a result, we found the subjects who get higher score in a cognitive ability test make a greater impact on strategic uncertainty.