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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/10009318135
This study applies experimental methods to analyze travel mode choice. Two different scenarios are considered. In the first scenario, subjects have to decide whether to commute by car or by metro. Metro costs are fixed, while car costs are uncertain and determined by the joint effect of casual...
Persistent link: https://www.econbiz.de/10009320595
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/10009643179
other, and can delay their decision. Subjects acted rationally, gaining from observational learning, despite penalties for …
Persistent link: https://www.econbiz.de/10010605219
This paper introduces a model of boundedly rational observational learning, which is rationally founded and applicable … networks. Evidence from a laboratory experiment supports Quasi-Bayesian updating and our theoretical predictions …
Persistent link: https://www.econbiz.de/10013027986
We study the statistical properties of three estimation methods for a model of learning that is often fitted to …
Persistent link: https://www.econbiz.de/10005707942
and such learning behaviour induces more competitive outcomes in the Cournot market designs. By the same token, when … players experiment with new strategies when their payoff falls below the average profit (F. Palomino and F. Vega-Redondo, 1999 …
Persistent link: https://www.econbiz.de/10005766555
Consumer prices in many markets are persistently dispersed both across retail outlets and over time. While the cross sectional distribution of prices is stable, individual stores change their position in the distribution over time. It is a challenge to model oligopolistic price adjustment to...
Persistent link: https://www.econbiz.de/10005772961
outside their ethnic group. In the experiment, Thai subjects observed information that came from Americans and other Thais …
Persistent link: https://www.econbiz.de/10005125584
learning models in light of a laboratory experiment on responsiveness in a lowinformation dynamic game subject to changes in …While many learning models have been proposed in the game theoretic literature to track individuals’ behavior … its underlying structure. While history-dependent reinforcement learning models track convergence of play well in repeated …
Persistent link: https://www.econbiz.de/10005062390