Showing 1 - 9 of 9
number of standard learning algorithms. The learning theories are (unbeknown to subjects) a best response process, fictitious … play, imitation, reinforcement learning, and a trial & error process. We test whether subjects try to influence those … and that all learning algorithms are subject to exploitation with the notable exception of imitation. The experiment was …
Persistent link: https://www.econbiz.de/10003379095
the context of daily life does not differ between the two groups. We therefore conclude that learning through experience …
Persistent link: https://www.econbiz.de/10012103380
conclude that learning effects are more important than selection effects for explaining differences between inexperienced and …
Persistent link: https://www.econbiz.de/10011944119
by two countervailing forces that we dub 'Precautionary Learning' and 'Research Pessimism'. We find that - contrary to …
Persistent link: https://www.econbiz.de/10011409139
Many political systems with direct democracy mechanisms have adopted rules preventing decisions from being made by simple majority rule. The device most commonly added to majority rule in national is a quorum requirement. The two most common are the participation and the approval quora. Such...
Persistent link: https://www.econbiz.de/10012112132
from local or regional policy experiments. We argue that such learning processes are not trivial and do not occur … are tightly controlled by the electorate. Decentralisation provides improved learning processes compared to unitary …
Persistent link: https://www.econbiz.de/10003592742
Epstein and Schneider (2007) develop a framework of learning under ambiguity, generalizing maxmin preferences of Gilboa … rejection of initial priors that have become implausible over the learning process. I demonstrate that this feature of ex …
Persistent link: https://www.econbiz.de/10010424809
We show that for many classes of symmetric two-player games, the simple decision rule "imitate-the-best" can hardly be beaten by any other decision rule. We provide necessary and sufficient conditions for imitation to be unbeatable and show that it can only be beaten by much in games that are of...
Persistent link: https://www.econbiz.de/10003949629
We show that in symmetric two-player exact potential games, the simple decision rule "imitate-if-better" cannot be beaten by any strategy in a repeated game by more than the maximal payoff difference of the one-period game. Our results apply to many interesting games including examples like 2x2...
Persistent link: https://www.econbiz.de/10009569667