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We analyze the social and private learning at the symmetric equilibria of a queueing game with strategic experimentation. An infinite sequence of agents arrive at a server which processes them at an unknown rate. The number of agents served at each date is either: a geometric random variable in...
Persistent link: https://www.econbiz.de/10012215286
This paper studies a game of strategic experimentation with two-armed bandits whose risky arm might yield a payoff only after some exponentially distributed random time. Because of free-riding, there is an inefficiently low level of experimentation in any equilibrium where the players use...
Persistent link: https://www.econbiz.de/10010427376
Persistent link: https://www.econbiz.de/10003461284
This paper studies a game of strategic experimentation in which the players have access to two-armed bandits where the risky arm distributes lumpsum payoffs according to a Poisson process with unknown intensity. Because of free-riding, there is an inefficiently low level of experimentation in...
Persistent link: https://www.econbiz.de/10011410236
Consider two agents who learn the value of an unknown parameter by observing a sequence of private signals. The signals are independent and identically distributed across time but not necessarily across agents. We show that that when each agent's signal space is finite, the agents will commonly...
Persistent link: https://www.econbiz.de/10012776664
Consider two agents who learn the value of an unknown parameter by observing a sequence of private signals. The signals are independent and identically distributed across time but not necessarily agents. Does it follow that the agents will commonly learn its value, i.e., that the true value of...
Persistent link: https://www.econbiz.de/10012779487
This paper studies a game of strategic experimentation in which the players have access to two-armed bandits where the risky arm distributes lump-sum payoffs according to a Poisson process with unknown intensity. Because of free-riding, there is an inefficiently low level of experimentation in...
Persistent link: https://www.econbiz.de/10013320496
We analyze the social and private learning at the symmetric equilibria of a queueing game with strategic experimentation. An infinite sequence of agents arrive at a server which processes them at an unknown rate. The number of agents served at each date is either: a geometric random variable in...
Persistent link: https://www.econbiz.de/10012022777
This paper studies a game of strategic experimentation with two-armed bandits whose risky arm might yield a payoff only after some exponentially distributed random time. Because of free-riding, there is an inefficiently low level of experimentation in any equilibrium where the players use...
Persistent link: https://www.econbiz.de/10010440933
This paper studies a game of strategic experimentation in which the players learn from the experiments of others as well as their own. <br> We first establish the efficient benchmark where the players co-ordinate in order to maximise joint expected payoffs, and then show that, because of...
Persistent link: https://www.econbiz.de/10005328761