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A Simple Nonparametric Test for Independence

Mizrach, Bruce - 1995

A stationary stochastic process is defined to be locally independent if it eventually becomes independent of pastrealizations. I develop a simple nonparametric test for this condition. Size and power comparisons favor this statistic over the one proposed by Brock, Dechert and Scheinkman (1987)...

Persistent link: https://www.econbiz.de/10010334319

War signals: A theory of trade, trust and conflict

Rohner, Dominic; Thoenig, Mathias; Zilibotti, Fabrizio - 2011

We construct a dynamic theory of civil conflict hinging on inter-ethnic trust and trade. The model economy is inhabitated by two ethnic groups. Inter-ethnic trade requires imperfectly observed bilateral investments and one group has to form beliefs on the average propensity to trade of the other...

Persistent link: https://www.econbiz.de/10010316887

An experiment on learning with limited information: Nonconvergence, experimentation cascades, and the advantage of being slow

Friedman, Eric; Shor, Mikhael; Shenker, Scott; Sopher, Barry - 2000

We present the results of an experiment on learning in a continuous-time low-information setting. For a Cournot …

Persistent link: https://www.econbiz.de/10010318349

When is tit-for-tat unbeatable?

Duersch, Peter; Oechssler, Joerg; Schipper, Burkhard C. - 2013

We characterize the class of symmetric two-player games in which tit-for-tat cannot be beaten even by very sophisticated opponents in a repeated game. It turns out to be the class of exact potential games. More generally, there is a class of simple imitation rules that includes tit-for-tat but...

Persistent link: https://www.econbiz.de/10010318837

Emerging market business cycles revisited: learning about the trend

Boz, Emine; Daude, Christian; Durdu, C. Bora - 2011

We build an equilibrium business cycle model in which agents cannot perfectly distinguish between the permanent and transitory components of TFP shocks and learn about those components using the Kalman filter. Calibrated to Mexico, the model predicts a higher variability of consumption relative...

Persistent link: https://www.econbiz.de/10010273643

Individual learning about consumption

Allen, Todd W.; Carroll, Christopher D. - 2001

-of-thumb?approximation to optimal behavior by trial-and-error methods as Friedman (1953) proposed long ago We find that such individual learning …

Persistent link: https://www.econbiz.de/10010293482

The interest rate, learning, and inventory investment

Maccini, Louis J.; Schaller, Huntley; Moore, Bartholomew - 2004

intuitively appealing explanation, based on regime switching in the real interest rate and learning, of why tests based on the …

Persistent link: https://www.econbiz.de/10010333073

Learnability of a class of Non-atomic Games arising on the Internet

Friedman, Eric - 1998

learnable by several models of learning, such as adaptive and sophisticated learning (Milgrom and Roberts 1991), calibrated … learning (Foster and Vohra 1996), and reasonable learning (Friedman and Shenker 1997). Thus, using these methods one can …

Persistent link: https://www.econbiz.de/10010334330

Learning in Networks Contexts: Experimental Results from Simulations

Friedman, Eric; Shenker, Scott; Greenwald, Amy - 1998

This paper describes the results of simulation experiments performed on a suite of learning algorithms. We focus on … be extremely asynchronous; players update their strategies at very different rates. There are many proposed learning … information, asynchronous play, and the degree of responsiveness of the learning algorithm. …

Persistent link: https://www.econbiz.de/10010334347

Learning and Implementation on the Internet

Friedman, Eric; Shenker, Scott - 1998

We address the problem of learning and implementation on the Internet. When agents play repeated games in distributed … the essential properties that constitute ``reasonable'' learning behavior in distributed environments. We then study the …

Persistent link: https://www.econbiz.de/10010334355