Learning games
This paper presents a model of learning about a game. Players initially have little knowledge about the game. Through playing the same game repeatedly, each player not only learns which action to choose but also constructs a personal view of the game. The model is studied using a hybrid payoff matrix of the prisoner's dilemma and coordination games. Results of computer simulations show that (1) when all the players are slow at learning the game, they have only a partial understanding of the game, but might enjoy higher payoffs than in cases with full or no understanding of the game; (2) when one player is quick in learning the game, that player obtains a higher payoff than the others. However, all can receive lower payoffs than in the case in which all players are slow learners.
Year of publication: |
2009
|
---|---|
Authors: | Hanaki, Nobuyuki ; Ishikawa, Ryuichiro ; Akiyama, Eizo |
Published in: |
Journal of Economic Dynamics and Control. - Elsevier, ISSN 0165-1889. - Vol. 33.2009, 10, p. 1739-1756
|
Publisher: |
Elsevier |
Subject: | Learning Subjective views Computer simulation |
Saved in:
Online Resource
Saved in favorites
Similar items by person
-
Hanaki, Nobuyuki, (2009)
-
How do experienced traders respond to inflows of inexperienced traders? : an experimental analysis
Akiyama, Eizo, (2014)
-
Akiyama, Eizo, (2012)
- More ...