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Persistent link: https://www.econbiz.de/10010343540
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
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
This paper studies a game of strategic experimentation with two-armed bandits whose risky arm might yield a payoff only after some exponentially distributed random time. Because of free-riding, there is an inefficiently low level of experimentation in any equilibrium where the players use...
Persistent link: https://www.econbiz.de/10010440933
current state. Both product value and learning are public goods, which gives the players incentives to free-ride on each …
Persistent link: https://www.econbiz.de/10011557309
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
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
learning process of individuals with different preference types (more and less pro-social) and coarse information regarding the …
Persistent link: https://www.econbiz.de/10011326679
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
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