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The literature on learning in unknown environments emphasises reinforcing on actions which produce positive results. But, in some cases, success requires shifting from a currently successful actions to others. We examine, experimentally and theoretically in a very simple framework, how...
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This paper presents a model of learning about a game. Players initially have little knowledge about the game. Through playing the same game repeatedly, each player not only learns which action to choose but also constructs a personal view of the game. The model is studied using a hybrid payoff...
Persistent link: https://www.econbiz.de/10014182224
This paper proposes a model of learning about a game. Players initially have little knowledge about the game. Through playing the identical game repeatedly, each player not only learns which action to choose but also constructs his personal view on the game. The model is studied using a hybrid...
Persistent link: https://www.econbiz.de/10014222361
In this paper, we extend the individual evolutionary learning model by incorporating other-regarding considerations and apply the model to some Cournot games. Using the model fitted to the experimental data of a repeated 3-player Cournot game (with nonlinear cost and demand functions), we...
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