Past research:
I hypothesized about the degree of reasoning of each type of student and ran an experiment in my faculty. Subjects were asked to solve an adapted version of the Keynesian beauty contest game. I compared the responses of business students against the responses of economics students. No significant difference was found in their pattern of responses. However, there is a large number of observations of business students in the last level of reasoning of my experiment. This supports the hypothesis that business students solved the game by iterated dominance. I also provide a brief discussion about other factors that could drive different responses in the game such as gender, language of the class, game theory knowledge of the subject and nationality.