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Recently there has been much theoretical and experimental work on learning in games. However, learning usually means "learning about the strategic behavior of opponents" rather than "learning about the game" as such. In contrast, here we report on an experiment designed to test whether players...
Persistent link: https://www.econbiz.de/10004968377
willingness to pay. Experiments, extended over 200 periods, were run with 3, 4, and 5 participants. Subjects did not receive any …
Persistent link: https://www.econbiz.de/10005032209
Two players bargain over the allocation of a sum of money. They are only incompletely informed about the opponent's alternative in case of conflict. The paper investigates two different experimental approaches: the spontaneous behavior of subjects in a game playing experiment and the strategies...
Persistent link: https://www.econbiz.de/10004968278
experiments in contrast to analog experimental results on price-competition in the literature. …
Persistent link: https://www.econbiz.de/10004968365
We use an experiment to explore how subjects learn to play against computers which are programmed to follow one of a number of standard learning algorithms. The learning theories are (unbeknown to subjects) a best response process, fictitious play, imitation, reinforcement learning, and a trial...
Persistent link: https://www.econbiz.de/10004968388
We introduce a generalized theoretical approach to study imitation models and subject the models to rigorous experimental testing. In our theoretical analysis we find that the different predictions of previous imitation models are due to different informational assumptions, not to different...
Persistent link: https://www.econbiz.de/10004968437
. We review previous Cournot experiments in the literature. Additionally, we conduct a new series of experiments studying …
Persistent link: https://www.econbiz.de/10004968444
Persistent link: https://www.econbiz.de/10004968207
Persistent link: https://www.econbiz.de/10004968287
Two subjects have to repeatedly choose between two alternatives, A and B, where payoffs of an A or B-choice depend on the choices made by both players in a number of previous choices. Locally, alternative A gives always more payoff than alternative B. However, in terms of overall payoffs...
Persistent link: https://www.econbiz.de/10004968419