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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 learn a) the relevant features of the payoff structure of a 2x2 game (e …
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learning. …
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theory of melioration is to exclusively play A, while the Nash equilibrium is to almost exclusively play B. The predictive … learning processes exhibited by players. …
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We report an experiment that uses the strategy method (Selten 1967) to elicit subjects' general strategy for playing …
Persistent link: https://www.econbiz.de/10004968378
Numerous laboratory experiments show that workers reciprocate to high wages with high effort, when there is perfect … information on the surplus created. Recent field experiments, however, suggest that trust and reciprocity may be lower or absent … when the information is incomplete. We report a laboratory experiment with symmetric and asymmetric incomplete surplus …
Persistent link: https://www.econbiz.de/10004968462
and that all learning algorithms are subject to exploitation with the notable exception of imitation. The experiment was …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 …
Persistent link: https://www.econbiz.de/10004968388
replicate and review earlier cascade experiments. Finally, we study reputation effects in the context of herding. …Most real world situations which are susceptible to herding are also characterized by direct payoff externalities. Yet … study several different forms of payoff externalities that interact with a standard herding model. More than 6000 subjects …
Persistent link: https://www.econbiz.de/10004968406
I consider a situation, where the agent can acquire payoff-relevant information either before or after the contract is signed. To raise efficiency, the principal might solicit information; to retain all surplus, however, she must prevent precontractual information gathering. The following class...
Persistent link: https://www.econbiz.de/10009651598