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The theory of drift (Binmore and Samuelson 1999) concerns equilibrium selection in which second-order disturbances may have first-order effects in the emergence of one equilibrium over the other. We provided experimental evidence with human players supporting the model in Caminati, Innocenti and...
Persistent link: https://www.econbiz.de/10010835981
We provide experimental evidence to Binmore and Samuelson’s (1999) insights for modeling the learning process through which equilibrium is selected. They proposed the concept of drift to describe the effect of perturbations on the dynamic process leading to equilibrium in evolutionary games...
Persistent link: https://www.econbiz.de/10005766458
The theory of drift (Binmore and Samuelson 1999) concerns equilibrium selection in which second order disturbances may have first-order effects in the emergence of one equilibrium over the other. We provided experimental evidence with human players supporting the model in Caminati, Innocenti and...
Persistent link: https://www.econbiz.de/10005766554
The theory of drift (Binmore and Samuelson 1999) concerns equilibrium selection in which second-order disturbances may have first-order effects in the emergence of one equilibrium over the other. We provided experimental evidence with human players supporting the model in Caminati, Innocenti and...
Persistent link: https://www.econbiz.de/10005181933