Showing 1 - 10 of 14,542
We conduct a laboratory experiment and provide evidence of learning spillovers within and across equivalence classes of … “structurally similar” games. These spillovers are inconsistent with existing theories of learning in games. …
Persistent link: https://www.econbiz.de/10011116220
games offer new opportunities to identify learning rules, since on networks (compared to e.g. random matching) more rules … participants choose and which information they consult before making their choices. We use this information to estimate learning … types using maximum likelihood methods. There is substantial heterogeneity in learning types. However, the vast majority of …
Persistent link: https://www.econbiz.de/10011145661
We present a hidden Markov model of discrete strategic heterogeneity and learning in first price independent private …
Persistent link: https://www.econbiz.de/10010904020
number of standard learning algorithms. The learning theories are (unbeknown to subjects) a best response process, fictitious … play, imitation, reinforcement learning, and a trial & error process. We test whether subjects try to influence those … and that all learning algorithms are subject to exploitation with the notable exception of imitation. The experiment was …
Persistent link: https://www.econbiz.de/10005150956
In this paper, we introduce two new learning models: impulse-matching learning and action-sampling learning. These two … models together with the models of self-tuning EWA and reinforcement learning are applied to 12 different 2 x 2 games and … are two-fold: while the simulations with impulse-matching and action-sampling learning successfully replicate the …
Persistent link: https://www.econbiz.de/10009418465
Economics has devoted little attention so far as to whether the type of decision maker matters for economic decisions. However, many important decisions like those on monetary policy or a company's business strategy are made by (small) groups rather than an individual. We compare behaviour of...
Persistent link: https://www.econbiz.de/10005765178
Consumer prices in many markets are persistently dispersed both across retail outlets and over time. While the cross sectional distribution of prices is stable, individual stores change their position in the distribution over time. It is a challenge to model oligopolistic price adjustment to...
Persistent link: https://www.econbiz.de/10005772961
Economic theory has evolved without paying proper attention to behavioral approaches, especially to social, economic, and cognitive psychology. This has recently changed by including behavioral economics courses in many doctoral study programs. Although this new development is most welcome, the...
Persistent link: https://www.econbiz.de/10004970286
The behavior of men and women in a number of games free of social issues is explored. The analysis is conducted for simple (2x2) and complex (guessing) games and in static and repeated settings. No gender effect is observed either in static nor in repeated games. It is concluded that gender bias...
Persistent link: https://www.econbiz.de/10005455470
perspectives (i.e. computerizing, learning, grouping, talking, and even teaching how to play it), but the anomaly still survives …
Persistent link: https://www.econbiz.de/10005526804