Showing 1 - 10 of 78
Rule learning posits that decision makers, rather than choosing over actions, choose over behavioral rules with …. Past works on rule learning have shown that when playing a single game over a number of rounds, players can learn to form … sophisticated beliefs about others. Here we are interested in learning that occurs between games where the set of actions is not …
Persistent link: https://www.econbiz.de/10010597534
information games of varying complexity. We call this discovery experience Eureka Learning. We use a change-point analysis to …
Persistent link: https://www.econbiz.de/10010662454
This paper studies supermodular mechanism design in environments with arbitrary (finite) type spaces and interdependent valuations. In these environments, the designer may have to use Bayesian equilibrium as a solution concept, because ex-post implementation may not be possible. We propose...
Persistent link: https://www.econbiz.de/10010719489
learning. In repeat-choice situations, such learning brings value. If probabilities appear favorable (unfavorable), a choice …, decision makers often prove to be blind to the learning opportunities offered by uncertain probabilities. They forgo …, many make choices contrary to learning. Priming with optimal strategies offers little improvement. Such decision makers …
Persistent link: https://www.econbiz.de/10011049682
provide some necessary and some sufficient conditions for learning rules, that assume the agent has little prior and feedback …, Econometrica) who provide similar results for learning rules that seek higher expected payoffs. Our analysis reveals that a concern … for variance leads to quadratic transformations of payoffs to appear in the learning rule. …
Persistent link: https://www.econbiz.de/10011049685
We consider minimum-effort games played in an arbitrary network. For a family of imitation behavioral rules, including Imitate the Best and the Proportional Imitation Rule, we show that inefficient conventions arise independently of the interaction structure, if information is limited to the...
Persistent link: https://www.econbiz.de/10011049738
We revisit a result by Kim and Wong (2010) showing that under global interactions any strict Nash equilibrium of a coordination game can be supported as long run equilibrium by properly adding dominated strategies. We show that in the circular city model of local interactions and in the torus...
Persistent link: https://www.econbiz.de/10011049774
We develop a dynamic model of opinion formation in social networks when the information required for learning a …
Persistent link: https://www.econbiz.de/10011049780
under both regimes. We also present a learning model that allows players to learn about the other playersʼ strategies and … the prior distribution of the senderʼs type. We show that this learning model accurately accounts for all main features of …
Persistent link: https://www.econbiz.de/10011049808
We study coordination in dynamic global games with private learning. Players choose whether and when to invest …
Persistent link: https://www.econbiz.de/10011049831