In this paper, we introduce two new learning models: action-sampling learning and impulse-matching learning. These two models, together with the models of self-tuning EWA and reinforcement learning, are applied to 12 different 2×2 games and their results are compared with the results from...

Seminal models of herd behaviour and informational cascades point out existence of negative information externalities, and propose to ?destroy? information in order to achieve social improvements. Although in the last years many features of herd behaviour and informational cascades have been...

One striking behavioral phenomenon is the “pull-to-center” bias in the newsvendor game: facing stochastic demand, subjects tend to order quantities between the expected profit maximizing quantity and mean demand. We show that the impulse balance equilibrium, which is based on a simple...