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Psychologists have long recognized two kinds of learning: one that is relatively shallow and domain-specific; and … recently considered this distinction, and the conditions that stimulate the latter kind of “meaningful” learning in games are … still unclear. Three experiments demonstrate that meaningful learning – the acquisition of the principle of iterated …
Persistent link: https://www.econbiz.de/10014055234
We report on an experiment testing the empirical relevance of least squares (LS) learning, a common way of modelling … in the independent variable of the model. We consider several alternatives to least squares learning and find evidence …
Persistent link: https://www.econbiz.de/10014078469
strongly restricts the space of agent actions, facilitating the identification of decision rules. Evidence for learning … learn across periods. However, a majority exhibit little evidence of learning, and many are, in fact, simply content to …
Persistent link: https://www.econbiz.de/10014066673
learning might take place. The current paper extends this previous work. Using an experiment in which subjects play four games … without feedback, the experiment allows a stronger test of "no-feedback learning" as well as a better understanding of the … learning transfers to new games. Current theories of learning model learning as adjustment in behavior in response to feedback …
Persistent link: https://www.econbiz.de/10014087372
Learning in real life is based on different processes. Humans learn to a certain extent from their own experience but … assessment learning (GPAL) model which enables us to evaluate the relative influences of these two different models of learning …. We apply GPAL to a homogeneous good Bertrand duopoly experiment with random matching and population pricing information …
Persistent link: https://www.econbiz.de/10011186671
equilibrium of the game does not organize the individual data, two individual learning models are studied: one following a … predictive value of such learning models is found to be poor. …
Persistent link: https://www.econbiz.de/10011538855
We report an experiment on a decision task by SAMUELSON and BAZERMAN (1985). Subjects submit a bid for an item with an … unknown value. A winner s curse phenomenon arises when subjects bid too high and make losses. Learning direction theory can … quantitative predictions on the basis of learning direction theory. We also look at monotonic ladder processes. It is shown that …
Persistent link: https://www.econbiz.de/10011539130
Our study analyzes theories of learning for strategic interactions in networks. Participants played two of the 2 x 2 … order shown by Selten and Chmura. This result supports our view that learning in networks is different from learning in …
Persistent link: https://www.econbiz.de/10010304449
This paper experimentally investigates the nature of impulses in impulse learning. Particularly, we analyze whether …
Persistent link: https://www.econbiz.de/10010323851
Rational Expectations (RE) models have two crucial dimensions: 1) agents correctly forecast future prices given all available information, and 2) given expectations, agents solve optimization problems and these solutions in turn determine actual price realizations. Experimental testing of such...
Persistent link: https://www.econbiz.de/10010326375