Reinforcement learning has proved quite successful in predicting subjects' adjustment behaviour in repeatedly played … simple games. However, reinforcement learning does not predict convergence to the efficient cell in the minimal information … game of mutual fate control, while earlier psychologists' experiments show some tendency to convergence. Our rivalling …

This paper studies behavior in experiments with a linear voluntary contributions mechanism for public goods conducted …

inexperienced central bankers. In our experiments, subjects repeatedly set the short-term interest rate for a computer economy with …

efficient use. In a series of experiments, Vernon Smith [1987] found that with the right trading institutions, a market with … trading volume. In the series of experiments reported here, the extension of the Hayek Hypothesis to an economy with …

and the Nature of Market Interactions, Econometrica, 72 (2004):747-780] and in social preference experiments adapted from …

that the stylized fact of declining cooperation in repeated public goods experiments results from this bias and adaptation. …