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Recent theories from complexity science argue that complex dynamics are ubiquitous in social and economic systems. These claims emerge from the analysis of individually simple agents whose collective behavior is surprisingly complicated. However, economists have argued that iterated reasoning--what you think I think you think--will suppress complex dynamics by stabilizing or accelerating convergence to Nash equilibrium. We report stable and efficient periodic behavior in human groups playingdoi:10.1371/journal.pone.0056416 pmid:23441191 pmcid:PMC3575333 fatcat:q27rjdbyjvbojl5ubzuqutcvce