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Evidence Theory: A Mathematical Framework for Unpredictable Hypotheses

Fioretti, Guido - EconWPA - 2002

Shafer's evidence theory is a branch of the mathematics of uncertain reasoning that allows for novel possibilities to … be conceived by a decision-maker. Many of its findings exhibit striking similarities with an alternative decision theory … purported by Shackle in the 1950s, before expected utility maximization monopolized the scene. Evidence theory does not attempt …

Persistent link: https://www.econbiz.de/10005125582

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

Learning to Respond: The Use of Heuristics in Dynamic Games

Shor, Mikhael - EconWPA - 2003

While many learning models have been proposed in the game theoretic literature to track individuals’ behavior, surprisingly little research has focused on how well these models describe human adaptation in changing dynamic environments. Analysis of human behavior demonstrates that people are...

Persistent link: https://www.econbiz.de/10005062390

Little Information, Efficiency, and Learning - An Experimental Study

Mitropoulos, Atanasios - EconWPA - 2001

Earlier experiments have shown that under little information subjects are hardly able to coordinate even though there are no conflicting interests and subjects are organised in fixed pairs. This is so, even though a simple adjustment process would lead the subjects into the efficient, fair and...

Persistent link: https://www.econbiz.de/10005407575

CONSUMER SEARCH: NOT ENOUGH OR TOO MUCH?

Zwick, Rami; Rapoport, Amnon; Lo, Alison King Chung; … - EconWPA - 2001

We study search behavior in a generalized "secretary problem" environment in which consumers search sequentially for the best alternative from a known and finite set of multi-attribute alternatives. In contrast to most previous studies, we make no distributional assumptions about the quality of...

Persistent link: https://www.econbiz.de/10005408222

On the Measurement of the Predictive Success of Learning Theories in Repeated Games

Mitropoulos, Atanasios - EconWPA - 2001

The growing literature on learning in games has produced various results on the predictive success of learning theories. These results, however, were based on various methods of comparison. The present paper uses experimental data on a set of four games in order to check on the robustness of...

Persistent link: https://www.econbiz.de/10005408228

A cognitive approach to individual learning: some experimental results

Novarese, Marco; Rizzello, Salvatore - EconWPA - 2003

This study describe an experiment on individual learning in the domain of cognitive economics. The authors’ main goal is to observe and to describe how subjects elaborate rules and regularities in problem solving. Involved subjects are asked to choose between different scores related to an...

Persistent link: https://www.econbiz.de/10005556579

The Neural Basis of Financial Risk Taking

Kuhnen, Camelia; Knutson, Brian - EconWPA - 2005

Investors systematically deviate from rationality when making financial decisions, yet the mechanisms responsible for these deviations have not been identified. Using event-related fMRI, we examined whether anticipatory neural activity would predict optimal and suboptimal choices in a financial...

Persistent link: https://www.econbiz.de/10005556666

Some Notes on Learning in Games with Strategic Complementarities

Berger, Ulrich - EconWPA - 2004

Fictitious play is the classical myopic learning process, and games with strategic complementarities are an important class of games including many economic applications. Knowledge about convergence properties of fictitious play in this class of games is scarce, however. Beyond dominance...

Persistent link: https://www.econbiz.de/10005407536

Two More Classes of Games with the Fictitious Play Property

Berger, Ulrich - EconWPA - 2004

Fictitious play is the oldest and most studied learning process for games. Since the already classical result for zero-sum games, convergence of beliefs to the set of Nash equilibria has been established for some important classes of games, including weighted potential games, supermodular games...

Persistent link: https://www.econbiz.de/10005550859

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