Showing 1 - 10 of 36
We propose a framework in order to econometrically estimate case-based learning and apply it to empirical data from … twelve 2 × 2 mixed strategy equilibria experiments. Case-based learning allows agents to explicitly incorporate information …-based learning to other learning models (reinforcement learning and self-tuned experience weighted attraction learning) while using …
Persistent link: https://www.econbiz.de/10012432206
We analyze choices of sellers, each setting a reserve price in a laboratory first price auction with automated equilibrium bidding. Subjects are allowed to gain experience for a fixed period of time prior to making a single payoff-relevant choice. Behavior of more experienced sellers was...
Persistent link: https://www.econbiz.de/10011993277
. Our model was designed according to the Instance-Based Learning Theory (IBLT). The two versions of the model assumed the … same cognitive principles of decision making and learning in the MEC. The only difference between the two models was the …
Persistent link: https://www.econbiz.de/10009752431
We study social learning in a large population of agents who only observe the actions taken by their neighbours. Agents …
Persistent link: https://www.econbiz.de/10009752451
population of poker playing agents is instantiated to play the preflop portion of Texas Hold'em poker, with learning and strategy … revision occurring over the course of the simulation. This paper aims to investigate the influence of learning dynamics on … dominant strategy when loss aversion is included in the learning model, not when winning and magnitude of win are of the only …
Persistent link: https://www.econbiz.de/10014443305
The black box method was developed as an "asocial control" to allow for payoff-based learning while eliminating social … participants can unwittingly affect the learning of other participants. Here, we test a solution to this problem in a range of … no significant differences in rates of learning between the original and the computerised black box, therefore either …
Persistent link: https://www.econbiz.de/10014418156
strong association between current outcome and future action, as dictated by the reinforcement learning principles of win …
Persistent link: https://www.econbiz.de/10012431928
There has been much theoretical work aimed at understanding the evolution of social learning; and in most of it …, individual and social learning are treated as distinct processes. A number of authors have argued that this approach is faulty … because the same psychological mechanisms underpin social and individual learning. In previous work, we analyzed a simple …
Persistent link: https://www.econbiz.de/10013171850
Social learning often occurs between groups with different levels of experience. Yet little is known about the ideal … novices learning from experienced, a particular form of probabilistic imitation is selected. Novices should imitate any …
Persistent link: https://www.econbiz.de/10013368210
This paper describes the “Bounded Memory, Inertia, Sampling and Weighting” (BI-SAW) model, which won the http://sites.google.com/site/gpredcomp/Market Entry Prediction Competition in 2010. The BI-SAW model refines the I-SAW Model (Erev et al. [1]) by adding the assumption of limited memory...
Persistent link: https://www.econbiz.de/10009025196