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Recently there has been much theoretical and experimental work on learning in games. However, learning usually means learning about the strategic behavior of opponents rather than learning about the game as such. In contrast, here we report on an experiment designed to test whether players learn...
Persistent link: https://www.econbiz.de/10011539825
We introduce a generalized theoretical approach to study imitation and subject it to rigorous experimental testing. In our theoretical analysis we find that the different predictions of previous imitation models are due to different informational assumptions, not to different behavioral rules....
Persistent link: https://www.econbiz.de/10003023525
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
actions will be played some fraction of the time in the long run. We then conduct experiments to check this fragility. We …
Persistent link: https://www.econbiz.de/10003593007
. We review previous Cournot experiments in the literature. Additionally, we conduct a new series of experiments studying …
Persistent link: https://www.econbiz.de/10011539897
Competition between groups is ubiquitous in social and economic life, and groups are typically not created equal. Here we experimentally investigate the implications of this general observation on the unfolding of symmetric and asymmetric competition between groups that are either homogeneous or...
Persistent link: https://www.econbiz.de/10011872326
This paper uses a laboratory experiment to study the effect of a monitoring structure on the play of the infinitely repeated prisoner's dilemma. Keeping the stage game fixed, we examine the behavior of subjects when information about past actions is perfect (perfect monitoring), noisy but public...
Persistent link: https://www.econbiz.de/10011300885
Recent theoretical work shows that folk theorems can be developed for infiniteoverlapping generations games. Cooperation in such games can be sustained as aNash equilibrium. Besides the efficient cooperative equilibrium there is alsothe inefficient non-cooperative equilibrium. This paper...
Persistent link: https://www.econbiz.de/10011301169
We designed four observational learning experiments to identify the key channels that, along with Bayes … actions, but they overweight their low quality signals relative to public information. Experiments 2-4 reveal that non …
Persistent link: https://www.econbiz.de/10011789104
Persistent link: https://www.econbiz.de/10001529148