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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/10005407609
While many learning models have been proposed in the game theoretic literature to track individuals’ behavior … learning models in light of a laboratory experiment on responsiveness in a lowinformation dynamic game subject to changes in … its underlying structure. While history-dependent reinforcement learning models track convergence of play well in repeated …
Persistent link: https://www.econbiz.de/10005062390
purification with recent results from the rational learning literature. …
Persistent link: https://www.econbiz.de/10005407541
of evolutionary and learning processes in this game. Only the continuous best response dynamic uniquely selects the … Stackelberg outcome under noise. All other dynamics analyzed allow for the Cournot equilibrium to be selected. In typical cases … Cournot is the unique long run outcome even for vanishing noise in the signal. …
Persistent link: https://www.econbiz.de/10005550927
experiments that aim to measure the prevalence of interdependent preferences. …
Persistent link: https://www.econbiz.de/10010851352
pure strategies played by non-economists. In contrast to previous experiments in which game theory predictions fail …
Persistent link: https://www.econbiz.de/10010547146
Prez-Castrillo and Wettstein (2002) and Veszteg (2004) propose the use of a multibidding mechanism for situations where agents have to choose a common project. Examples are decisions involving public goods (or public "bads"). We report experimental results to test the practical tractability and...
Persistent link: https://www.econbiz.de/10010547209
points may be behind different choices. Such reasons are coherent with same subjects behavior in other tests and experiments …
Persistent link: https://www.econbiz.de/10010547217
We use subjects actions in modified dictator games to perform a within-subject classification of individuals into four different types of interdependent preferences: Selfish, Social Welfare maximizers, Inequity Averse and Competitive. We elicit beliefs about other subjects actions in the same...
Persistent link: https://www.econbiz.de/10010547252
In a laboratory experiment, subjects played ten two-person 3x3 constant sum games and stated beliefs about the frequencies of play by their opponents. Contrary to previous experimental evidence, game-theoretical predictions work well: 80% of actions coincided with Nash equilibrium, subjects were...
Persistent link: https://www.econbiz.de/10005125558