First and second price auctions are optimal mechanisms for resource allocation in many situations and are used widely. However, unlike the static once-and-for-all situations for which auctions are efficient, in dynamic stochastic environments auctions cannot necessarily support opimal...

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We improve Stahl's (1996b) model of boundedly rational behavioral rules and rule learning for symmetric normal-form games with unique symmetric Nash equilibria. A player begins with initial propensities on a class of evidence-based behavioral rules, and given experience over time adjusts his/her...