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 …

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 …

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 …

In this paper we present experimental evidence suggesting that observational learning (i.e. learning-by-not-doing but … by observing) may outperform learning-by-doing. …

all stylized facts observed in aggregate price fluctuations and individual forecasting behaviour in recent learning to …

other, and can delay their decision. Subject acted rationally, gaining from observational learning, despite penalties for …

We present an experiment for the study of learning in a complex task which requires both memorisation and the ability … the end of the experiment) the subjects start refining them to include a larger subset of the information, this causes …

We study the statistical properties of three estimation methods for a model of learning that is often fitted to …