Showing 1 - 10 of 35
We conduct a field experiment to investigate employers' trust in workers.  A sample of real entrepreneurs and workers …
Persistent link: https://www.econbiz.de/10011159006
History offers many examples of dictators who worsened their behavior significantly over time (like Zimbabwe's Robert Mugabe), while there are also cases of dictators who have displayed remarkable improvements (like Jerry Rawlings of Ghana).  We show that such mutations can result from rational...
Persistent link: https://www.econbiz.de/10011004292
.  We propose a completely uncoupled learning process that selects a subset of the core of the game with a natural equity …
Persistent link: https://www.econbiz.de/10011004342
of play towards Nash equilibrium in repeated strategic interactions.  We study behavior in a p-beauty contest experiment … learning based on level-k reasoning.  We find a systematic positive relationship between cognitive ability and levels … ability to that of character skills, and find that both cognition and personality affect behavior and learning.  More …
Persistent link: https://www.econbiz.de/10011004460
In an environment where voters face an inference problem on the competence level of policy makers, this paper shows how subjecting these policy makers to reelection can reduce the degree of policy experimentation to the benefit of the status quo.  This may be a reason why some notable policy...
Persistent link: https://www.econbiz.de/10011004471
People believe that, even in very large samples, proportions of binary signals might depart significantly from the population mean.  We model this "non-belief in the Law of Large Numbers" by assuming that a person believes that proportions in any given sample might be determined by a rate...
Persistent link: https://www.econbiz.de/10011004478
Models of macroeconomic learning are populated by agents who possess a great deal of knowledge of the "true" structure … of the economy, and yet ignore the impact of their own learning on that structure; they may learn about an equilibrium …, but they do not learn within it.  An alternative learning model is presented where agents' decisions are informed by …
Persistent link: https://www.econbiz.de/10009421152
the existing literature, which typically focuses on the learning of private agents during a disinflation.  We build a …
Persistent link: https://www.econbiz.de/10009364587
This paper presents a neural network model developed to simulate the endogenous emergence of bounded-rational behavior in normal-form games. There exists an algorithm which, if learnt by a neural network, would enable it to perfectly select Nash equilibria in never before seen games. However,...
Persistent link: https://www.econbiz.de/10010605217
other, and can delay their decision. Subjects acted rationally, gaining from observational learning, despite penalties for …
Persistent link: https://www.econbiz.de/10010605219