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McCausland (2004a) describes a new theory of random consumer demand. Theoretically consistent random demand can be represented by a "regular" "L-utility" function on the consumption set X. The present paper is about Bayesian inference for regular L-utility functions. We express prior and...
Persistent link: https://www.econbiz.de/10005729859
We introduce a procedure to infer the repeated-game strategies that generate actions in experimental choice data. We apply the technique to set of experiments where human subjects play a repeated Prisoner's Dilemma. The technique suggests that two types of strategies underly the data.
Persistent link: https://www.econbiz.de/10005133132