Adaptive Heuristics

We exhibit a large class of simple rules of behavior, which we call adaptive heuristics, and show that they generate rational behavior in the long run. These adaptive heuristics are based on natural regret measures, and may be viewed as a bridge between rational and behavioral viewpoints. The results presented here, taken together, establish a solid connection between the dynamic approach of adaptive heuristics and the static approach of correlated equilibria.

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Year of publication:	2004-10
Authors:	Hart, Sergiu
Institutions:	Center for the Study of Rationality, Hebrew University of Jerusalem

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Extent:	text/html
Series:	Discussion Paper Series.
Type of publication:	Book / Working Paper
Notes:	45 pages
Classification:	C7 - Game Theory and Bargaining Theory ; D8 - Information and Uncertainty
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005585355