version of this idea, called interactive trial and error learning, which has the property that it implements Nash equilibrium …), the method requires no statistical estimation. Unlike a learning procedure proposed by Hart and Mas-Colell (2006), it … requires no knowledge of the other players' actions: learning proceeds purely by responding to one's own payoff history. The …

Learning processes are widely held to be the mechanism by which boundedly rational agents adapt to environmental … preferences arises when environmental complexity overwhelms learning possibilities and leads agents to make use of other people …

properties of boundedly rational heterogeneous agents. We combine an adaptive learning process in a modified cobweb model within …