Showing 1 - 10 of 9,985
We address the problem of learning and implementation on the Internet. When agents play repeated games in distributed … environments like the Internet, they have very limited {\em a priori} information about the other players and the payoff matrix … the essential properties that constitute ``reasonable'' learning behavior in distributed environments. We then study the …
Persistent link: https://www.econbiz.de/10010334355
We address the problem of learning and implementation on the Internet. When agents play repeated games in distributed … environments like the Internet, they have very limited {\em a priori} information about the other players and the payoff matrix … the essential properties that constitute ``reasonable'' learning behavior in distributed environments. We then study the …
Persistent link: https://www.econbiz.de/10011577247
-post implementation may not be possible. We propose direct (Bayesian) mechanisms that are robust to certain forms of bounded rationality … conditions for supermodular implementation in unique equilibrium. …
Persistent link: https://www.econbiz.de/10010719489
Using belief elicitation, the paper investigates the formation and the evolution of beliefs in a signalling game in which a common prior on Sender's type is not induced. Beliefs are elicited about the type of the Sender and about the strategies of the players. The experimental subjects often...
Persistent link: https://www.econbiz.de/10009535526
We propose a framework in order to econometrically estimate case-based learning and apply it to empirical data from … twelve 2 × 2 mixed strategy equilibria experiments. Case-based learning allows agents to explicitly incorporate information …-based learning to other learning models (reinforcement learning and self-tuned experience weighted attraction learning) while using …
Persistent link: https://www.econbiz.de/10012432206
The use of coarse categories is prevalent in various situations and has been linked to biased economic outcomes, ranging from discrimination against minorities to empirical anomalies in financial markets. In this paper we study economic rationales for categorizing coarsely. We think of the way...
Persistent link: https://www.econbiz.de/10011380993
A learning rule is uncoupled if a player does not condition his strategy on the opponent's payoffs. It is radically …, radically uncoupled learning rules whose period-by-period behavior comes arbitrarily close to Nash equilibrium behavior in any …
Persistent link: https://www.econbiz.de/10011599374
I examine a setting, where an information sender conducts research into a payoff-relevant state variable, and releases information to agents, who consider joining a coalition. The agents' actions can cause harm by contributing to a public bad. The sender, who has commitment power, by designing...
Persistent link: https://www.econbiz.de/10011662438
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/10010278131
equilibrium of the game does not organize the individual data, two individual learning models are studied: one following a … predictive value of such learning models is found to be poor. …
Persistent link: https://www.econbiz.de/10010317639