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equilibrium. Finally, I provide a revelation principle for supermodular implementation in environments with general preferences. …
Persistent link: https://www.econbiz.de/10011599433
equilibrium. Finally, I provide a revelation principle for supermodular implementation in environments with general preferences. …
Persistent link: https://www.econbiz.de/10011695244
equilibrium. Finally, I provide a revelation principle for supermodular implementation in environments with general preferences. …
Persistent link: https://www.econbiz.de/10008478967
Using belief elicitation, the paper investigates the formation and the evolution of beliefs in a signalling game in which a common prior on Sender's type is not induced. Beliefs are elicited about the type of the Sender and about the strategies of the players. The experimental subjects often...
Persistent link: https://www.econbiz.de/10009535526
We propose a framework in order to econometrically estimate case-based learning and apply it to empirical data from … twelve 2 × 2 mixed strategy equilibria experiments. Case-based learning allows agents to explicitly incorporate information …-based learning to other learning models (reinforcement learning and self-tuned experience weighted attraction learning) while using …
Persistent link: https://www.econbiz.de/10012432206
One reason for firms to voluntarily increase their environmental or social production standards is to prevent consumers from lobbying for stricter mandatory standards. In this sense, voluntary overcompliance serves as a Greek gift, as consumers might be worse off in the end. Strategically, a...
Persistent link: https://www.econbiz.de/10011327885
taking an (irreversible) action. We define \textit{asymptotic learning} as the fraction of agents taking the correct action … converging to one as a society grows large. Under truthful communication, we show that asymptotic learning occurs if (and under … ``information hubs'', which receive and distribute a large amount of information. Asymptotic learning therefore requires information …
Persistent link: https://www.econbiz.de/10011599505
common prior is induced, while for other distributions behavior is similar under both regimes. We also present a learning … show that this learning model accurately accounts for all main features of the data. …
Persistent link: https://www.econbiz.de/10010277488
We study how subjects in an experiment use different forms of public information about their opponents' past behavior. In the absence of public information, subjects appear to use rather detailed statistics summarizing their private experiences. If they have additional public information, they...
Persistent link: https://www.econbiz.de/10011437972
We develop a dynamic framework of strategic information transmission through cheap talk in a social network. Privately informed agents have different preferences about the action to be implemented by each agent and repeatedly communicate with their neighbors in the network. We first characterize...
Persistent link: https://www.econbiz.de/10012215318