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The intermingling between cognitive economics and experimental
Novarese, Marco; Rizzello, Salvatore - EconWPA - 2004
methodological issues. Then the attention is focused on the relevance of the experimental method for the analysis of learning and …
Persistent link: https://www.econbiz.de/10005076658
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Genetic Action Trees A New Concept for Social and Economic Simulation
Pitz, Thomas; Chmura, Thorsten - EconWPA - 2005
which one can describe the learning behaviour of agents and the changes in action spaces. Using the extremely simplified …
Persistent link: https://www.econbiz.de/10005076915
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Agent-Based Computational Economics
Tesfatsion, Leigh - EconWPA - 2002
Agent-based computational economics (ACE) is the computational study of economies modeled as evolving systems of autonomous interacting agents. Starting from initial conditions, specified by the modeler, the computational economy evolves over time as its constituent agents repeatedly interact...
Persistent link: https://www.econbiz.de/10005076916
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A Study of Neo-Austrian Economics using an Artificial Stock Market
Benink, Harald A.; Gordillo, Jose Luis; Pardo, Juan Pablo; … - EconWPA - 2004
An agent-based artificial financial market (AFM) is used to study market efficiency and learning in the context of the … there are many coexisting signals. Learning is introduced by considering 'copycat' traders that learn the relative values of … the different strategies in the market and copy the most successful one. We show how such learning leads to a more …
Persistent link: https://www.econbiz.de/10005077021
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Multi-Unit Auctions to Allocate Water Scarcity Simulating Bidding Behaviour with Agent Based Models
Hailu, Atakelty; Thoyer, Sophie - EconWPA - 2005
Multi-unit auctions are promising mechanisms for the reallocation of water. The main advantage of such auctions is to avoid the lumpy bid issue. However, there is great uncertainty about the best auction formats when multi-unit auctions are used. The theory can only supply the structural...
Persistent link: https://www.econbiz.de/10005124870
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Individual learning and team functioning
Novarese, Marco - EconWPA - 2004
This paper aims at studying the effects of learning - seen as a possible source of individual heterogeneity - on team … strategies learned in the past, to the new situations faced. Learning processes, yet, are not based on the mechanical repetition …
Persistent link: https://www.econbiz.de/10005125572
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Toward a Cognitive Experimental Economics
Novarese, Marco - EconWPA - 2002
This paper aims to analyze and exemplify some methodological implications on the way to conduct experiments related to the adoption of a cognitive approach in Economics. Many differences arise in relation to a more traditional way. In fact cognitive economics has strong descriptive attention and...
Persistent link: https://www.econbiz.de/10005125579
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How Do People Learn by Listening to Others? Experimental Evidence from Thailand
Healy, Andrew - EconWPA - 2005
This paper presents experimental evidence about how individuals learn from information that comes from inside versus outside their ethnic group. In the experiment, Thai subjects observed information that came from Americans and other Thais that they could use to help them answer a series of...
Persistent link: https://www.econbiz.de/10005125584
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Evolution as Learning Yields Hyperbolic Discounting
Woods, James - EconWPA - 2003
Learning is modeled as an infection, which jumps from person to person. The rate of infection mimics individual …
Persistent link: https://www.econbiz.de/10005125641
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Heterogeneity and Learning in Labor Markets
Woodcock, Simon D. - EconWPA - 2005
This paper examines the role of agent heterogeneity and learning on wage dispersion and employment dynamics. In the … LEHD database. The mixed effect specifications generalize the earlier work of AKM and others. The learning component of the … residuals are consistent with Bayesian learning, and to estimate structural parameters of the matching model. I find …
Persistent link: https://www.econbiz.de/10005125778