Showing 1 - 10 of 125
In this paper we explore the possibility, heretofore unexplored in the marketing literature, that firms “invest funds” in their pricing processes. This builds on some of the recent economic work on the costs of price adjustment. To do this we undertook a two-year, cross- disciplinary,...
Persistent link: https://www.econbiz.de/10005076823
We describe a multiproduct barter trading experiment in which students exchange real goods in an open market based on their own personal preference. The experiment is designed for simulating a pure exchange market in order to demonstrate the role of money and its functions in real economies by...
Persistent link: https://www.econbiz.de/10005125577
This note describes an experiment, which is an extension of the experiment proposed by Levy and Bergen (1993). The experiment is designed to simulate an environment where something that is very similar to fiat money (i.e., is homogenous, durable, portable, storable, divisible, has no intrinsic...
Persistent link: https://www.econbiz.de/10005119382
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
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
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
, (ii) the resulting efficiency loss, and (iii) the adjustment of the learning rule. …
Persistent link: https://www.econbiz.de/10005407575
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
The growing literature on learning in games has produced various results on the predictive success of learning theories … four games in order to check on the robustness of rankings among learning rules across measures. We characterise measures … apply all thus defined measures to 12 learning rules. The results show that rankings are indeed sensitive to the measure …
Persistent link: https://www.econbiz.de/10005408228
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