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Behavioral economics provides several motivations for the common observation that agents appear somewhat unwilling to deviate from recent choices: salience, inertia, the formation of habits, the use of rules of thumb, or the locking in on certain modes of behavior due to learning by doing. This...
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intermediate learning rules hinges critically on a parameter of the model and the relative payoffs. -- Bounded rationality … ; Evolutionary game theory ; Evolutionary Stability ; Learning in games ; Belief learning ; Reinforcement learning …
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size. -- Bounded rationality ; Evolutionary game theory ; Imitation ; Better replies ; Markov chain ; Stochastic stability …
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Micro data from a dental insurance natural experiment is used to analyze why agents opt out of insurance. The purpose is to relate the dropout decision to new information on risk, acquired by the policy holder and the insurer. The results show that agents tend to leave the insurance when...
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This paper identifies the pertinent institutions governing the structure of payoffs with regard to female career progression. Drawing on recent insights in behavioral economics, we hypothesize that interactions between psychological mechanisms and the institutional setup may be important...
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players' perceptions of their opponents' skill or level of rationality. In our experimental design, we use the level of … experience (the number of periods played) as a proxy for the level of rationality and match subjects with different levels of …. -- Oligopoly ; Quantity precommitment ; Experience ; Rationality …
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