We introduce a generalized theoretical approach to study imitation models and subject the models to rigorous experimental testing. In our theoretical analysis we find that the different predictions of previous imitation models are due to different informational assumptions, not to different...

This experiment was designed to test various learning theories in the context of a Cournot oligopoly. The authors derive theoretical predictions for the learning theories and test these predictions by varying the information given to subjects. The results show that some subjects imitate...