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. -- Asymmetric Information ; Adverse Selection ; Learning ; Health Insurance … is to relate the dropout decision to new information on risk, acquired by the policy holder and the insurer. The results … utilization. The results show updating on dental risk to be asymmetric, giving agents and insurer partly different information …
Persistent link: https://www.econbiz.de/10002570047
certain modes of behavior due to learning by doing. This paper provides discrete-time adjustment processes for strategic games … beliefs supported by observed play in the recent past, in line with much of the literature on learning. These processes … eventually settle down in the minimal prep sets of Voorneveld (2004, 2005). -- adjustment ; learning ; minimal prep sets …
Persistent link: https://www.econbiz.de/10002640702
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; Evolutionary game theory ; Evolutionary Stability ; Learning in games ; Belief learning ; Reinforcement learning …In this paper I define an evolutionary stability criterion for learning rules. Using Monte Carlo simulations, I then … apply this criterion to a class of learning rules that can be represented by Camerer and Ho's (1999) model of learning. This …
Persistent link: https://www.econbiz.de/10001622441
player role, is drawn to play and chooses a pure strategy according to her personal learning rule after observing a sample … size. -- Bounded rationality ; Evolutionary game theory ; Imitation ; Better replies ; Markov chain ; Stochastic stability …
Persistent link: https://www.econbiz.de/10001622442
A product set of pure strategies is a prep set ("prep" is short for "preparation") if it contains at least one best reply to any consistent belief that a player may have about the strategic behavior of his opponents. Minimal prep sets are shown to exists in a class of strategic games satisfying...
Persistent link: https://www.econbiz.de/10001638116
This paper investigates why subjects in laboratory experiments on quantity precommitment games consistently choose capacities above the Cournot level - the subgame-perfect equilibrium. We argue that this puzzling regularity may be attributed to players' perceptions of their opponents' skill or...
Persistent link: https://www.econbiz.de/10001913808
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