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We show that in symmetric two-player exact potential games, the simple decision rule "imitate-if-better" cannot be beaten by any strategy in a repeated game by more than the maximal payoff difference of the one-period game. Our results apply to many interesting games including examples like 2x2...
Persistent link: https://www.econbiz.de/10009569667
We investigate whether two players in a long-run relationship can maintain cooperation when the details of the underlying game are unknown. Specifically, we consider a new class of repeated games with private monitoring, where an unobservable state of the world influences the payoff functions...
Persistent link: https://www.econbiz.de/10013097801
It is known that there are uncoupled learning heuristics leading to Nash equilibrium in all finite games. Why should … players use such learning heuristics and where could they come from? We show that there is no uncoupled learning heuristic …" or that could "learn itself". Rather, a player has an incentive to strategically teach such a learning opponent in order …
Persistent link: https://www.econbiz.de/10012971885
We investigate whether two players in a long-run relationship can maintain cooperation when the details of the underlying game are unknown. Specifically, we consider a new class of repeated games with private monitoring, where an unobservable state of the world influences the payoff functions...
Persistent link: https://www.econbiz.de/10012974183
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
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
player role, is drawn to play and chooses a pure strategy according to her personal learning rule after observing a sample …
Persistent link: https://www.econbiz.de/10001622442
learning, so that inertia in adjustment should fade away with experience. If this finding proves to be robust, inertia in … rules. Notably, refining these rules with similarity-based learning approach improves their predictive power …
Persistent link: https://www.econbiz.de/10012842597
learning, so that inertia in adjustment should fade away with experience. If this finding proves to be robust, inertia in … rules. A reformulation of naïve expectations with similarity-based learning approach is found to have a higher predictive …
Persistent link: https://www.econbiz.de/10012842925
's play. We investigate the impact of such learning behavior in the context of finitely repeated games. In contrast to related … cooperation is impossible without learning, for instance in a Prisoner's Dilemma, it can be sustained with approximate efficiency … can be “taught” and enforced. When learning is imperfect, the set of sustainable payoffs is not continuous, in the sense …
Persistent link: https://www.econbiz.de/10012943238