Strategic Complexity and the Value of Thinking
利用重复战略互动中的反应时间数据，衡量不同情境的战略复杂性，发现复杂性变化大且个体对复杂性的反应存在差异；思考时间超出个人常态反而降低获胜频率和收益。
Abstract We leverage response-time data from repeated strategic interactions to measure the strategic complexity of a situation by how long people think on average when they face that situation (where we categorise situations according to characteristics of play in the previous round). We find that strategic complexity varies significantly across situations, and we find considerable heterogeneity in how responsive subjects’ thinking times are to complexity. We also study how variation in response times at the individual level affects success: when a subject thinks for longer than she would normally do in a particular situation, she wins less frequently and earns less.