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We report experiments designed to test between Nash equilibria that are stable and unstable under learning. The 'TASP' (Time Average of the Shapley Polygon) gives a precise prediction about what happens when there is divergence from equilibrium under fictitious play like learning processes. We...
Persistent link: https://www.econbiz.de/10010288137
This paper studies fictitious play in networks of noncooperative two-person games. We show that continuous-time fictitious play converges to the set of Nash equilibria if the overall n-person game is zero-sum. Moreover, the rate of convergence is 1/T, regardless of the size of the network. In...
Persistent link: https://www.econbiz.de/10012018918
This paper studies fictitious play in networks of noncooperative two-player games. We show that continuous-time fictitious play converges to Nash equilibrium provided that the overall game is zero-sum. Moreover, the rate of convergence is 1/T , regardless of the size of the network. In contrast,...
Persistent link: https://www.econbiz.de/10011571263
therefore conducted an experiment to see if people make the predicted strategic move. The experiment uses a simple bargaining …
Persistent link: https://www.econbiz.de/10012718234
I study a discrete-time dynamic bargaining game in which a buyer can choose to learn privately about her value of the …
Persistent link: https://www.econbiz.de/10012832420
We use an experiment to explore how subjects learn to play against computers which are programmed to follow one of a number of standard learning algorithms. The learning theories are (unbeknown to subjects) a best response process, fictitious play, imitation, reinforcement learning, and a trial...
Persistent link: https://www.econbiz.de/10010263153
We use an experiment to explore how subjects learn to play against computers which are programmed to follow one of a number of standard learning algorithms. The learning theories are (unbeknown to subjects) a best response process, fictitious play, imitation, reinforcement learning, and a trial...
Persistent link: https://www.econbiz.de/10011422135
We use an experiment to explore how subjects learn to play against computers which are programmed to follow one of a number of standard learning algorithms. The learning theories are (unbeknown to subjects) a best response process, fictitious play, imitation, reinforcement learning, and a trial...
Persistent link: https://www.econbiz.de/10010366554
We use an experiment to explore how subjects learn to play against computers which are programmed to follow one of a number of standard learning algorithms. The learning theories are (unbeknown to subjects) a best response process, fictitious play, imitation, reinforcement learning, and a trial...
Persistent link: https://www.econbiz.de/10003379095
indicator of the welfare effects of public information. The context is a search, matching and bargaining market with uncertainty …
Persistent link: https://www.econbiz.de/10013214754