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Negatively correlated bandits
Klein, Nicolas Alexandre; Rady, Sven - 2008 - This version: August 1, 2008
We analyze a two-player game of strategic experimentation with two-armed bandits. Each player has to decide in continuous time whether to use a safe arm with a known payoff or a risky arm whose likelihood of delivering payoffs is initially unknown. The quality of the risky arms is perfectly...
Persistent link: https://www.econbiz.de/10010364305
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Negatively correlated bandits
Klein, Nicolas Alexandre; Rady, Sven - 2008
where both risky arms are of the same type, we find that learning will be complete in any Markov perfect equilibrium if the …
Persistent link: https://www.econbiz.de/10003951567
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Negatively Correlated Bandits
Klein, Nicolas; Rady, Sven - 2008
where both risky arms are of the same type, we find that learning will be complete in any Markov perfect equilibrium if the …
Persistent link: https://www.econbiz.de/10010427535
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A partial folk theorem for games with private learning
Wiseman, Thomas - In: Theoretical economics : TE ; an open access journal in … 7 (2012) 2, pp. 217-239
The payoff matrix of a finite stage game is realized randomly, and then the stage game is repeated infinitely. The distribution over states of the world (a state corresponds to a payoff matrix) is commonly known, but players do not observe nature’s choice. Over time, they can learn the state...
Persistent link: https://www.econbiz.de/10011690752
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Cognitive ability, character skills, and learning to play equilibrium : a level-k analysis
Gill, David; Prowse, Victoria L. - 2014
understand better how subjects with different cognitive abilities learn differently, we estimate a structural model of learning … ability to that of character skills, and find that both cognition and personality affect behavior and learning. More agreeable …
Persistent link: https://www.econbiz.de/10010364492
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Bandits in the lab
Hoelzemann, Johannes; Klein, Nicolas Alexandre - In: Quantitative economics : QE ; journal of the … 12 (2021) 3, pp. 1021-1051
We experimentally implement a dynamic public-good problem, where the public good in question is the dynamically evolving information about agents' common state of the world. Subjects' behavior is consistent with free-riding because of strategic concerns. We also find that subjects adopt more...
Persistent link: https://www.econbiz.de/10012598548
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Evolution of theories of mind
Mohlin, Erik - 2010
results are extended to a model of learning, in which type k plays a k times iterated best response the average of past play …
Persistent link: https://www.econbiz.de/10010281423
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Adaptive social learning
March, Christoph - 2016
The paper investigates social-learning when the information structure is not commonly known. Individuals repeatedly … interact in social-learning settings with distinct information structures. In each round of interaction, they use their … behavior in the long-run if and only if individuals distinguish social-learning settings and receive rich feedback after each …
Persistent link: https://www.econbiz.de/10011434567
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Lernen in ökonomischen Systemen : qualitative Aspekte und Überblick
Clemens, Christiane; Haslinger, Franz - 2001
Dieser Beitrag gibt einen Überblick über Ansatzpunkte und Möglichkeiten zur Integration von Lernprozessen in volkswirtschaftliche Fragestellungen. Es werden alternative Methoden vorgestellt, individuelle aber auch gesellschaftliche Lernenvorgänge in ökonomischen Modellen zu erfassen.
Persistent link: https://www.econbiz.de/10011526281
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Equilibrium selection under different learning modes in supermodular games
Kaarbøe, Oddvar M.; Tieman, Alexander F. - 1999
We apply the dynamic stochastic framework proposed by recent evolutionaryliterature to the class of strict supermodular games when two simplebehavior rules coexist in the population, imitation and myopic optimization.We assume that myopic optimizers are able to see how well their payoff...
Persistent link: https://www.econbiz.de/10011302143