Showing 1 - 10 of 32
Persistent link: https://www.econbiz.de/10004968114
We report on a two-person bargaining experiment, where both players are represented by groups of three persons each. Both groups negotiate on the division of a given amount. If they do not come to an agreement, they receive a guaranteed payoff which is higher for one group than for the other....
Persistent link: https://www.econbiz.de/10005001474
Consider a large population of individuals that are repeatedly randomly matched to play a cyclic 2x2 game such as Matching Pennies with fixed roles assigned in the game. Some learn by sampling previous play of a finite number of other individuals in the same role. We analyze population dynamics...
Persistent link: https://www.econbiz.de/10005032139
We call a set of strategies "uniformly evolutionary stable" if the following holds after a small mutation of a monomorphic population playing a strategy in the set: a) No mutant strategy can spread. b) Mutant strategies not in the set will be driven out. c) The meaning of a "small mutation" can...
Persistent link: https://www.econbiz.de/10005032174
We consider the model of social learning by Schlag (1996). Individuals must repeatedly choose an action in a multi-armed bandit. We assume that each indivdiual observes the outcomes of two other individuals' choices before her own next choice must be made -- the original model only allows for...
Persistent link: https://www.econbiz.de/10005032175
A partnership game is a two person game in which both players necessarily receive the same payoff. For symmetric partnership games it is shown that asymptotic stability with respect to the replicator dynamics, evolutionary stability (Maynard Smith and Price [1973], Thomas [1985]) and equilibrium...
Persistent link: https://www.econbiz.de/10005032177
In this paper we report on a new methodology of observing subjects behavior in a laboratory situation: Videotaping groups of subjects who have to perform a common task provides information on decision processes that cannot be obtained by another method. We conducted a videotaped bargaining...
Persistent link: https://www.econbiz.de/10005032196
We consider the situation in which individuals in a finite population must repeatedly choose an action yielding an uncertain payoff. Between choices, each individual may observe the performance of one other individual. We search for rules of behavior with limited memory that increase expected...
Persistent link: https://www.econbiz.de/10004968204
Individuals repeatedly face a multi-decision task with unknown payoff distributions. They have minimal memory and update their strategy by observing previous play (and not strategy) of someone else. We select behavior rules that increase average payoffs as often as possible in a large population...
Persistent link: https://www.econbiz.de/10004968220
We analyze the evolution of behavioral rules for learning how to play a two-armed bandit. Individuals have no information about the underlying pay-off distributions and have limited memory about their own past experience. Instead they must rely on information obtained trough observing the...
Persistent link: https://www.econbiz.de/10004968221