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Rage Against the Machines: How Subjects Learn to Play Against Computers
Dürsch, Peter; Kolb, Albert; Oechssler, Jörg; … - 2005
number of standard learning algorithms. The learning theories are (unbeknown to subjects) a best response process, fictitious … play, imitation, reinforcement learning, and a trial & error process. We test whether subjects try to influence those … and that all learning algorithms are subject to exploitation with the notable exception of imitation. The experiment was …
Persistent link: https://www.econbiz.de/10010263153
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Imitators and Optimizers in Cournot Oligopoly
Schipper, Burkhard C. - 2002
We present a formal model of symmetric n-firm Cournot oligopoly with a heterogeneous population of profit optimizers and imitators. Imitators mimic the output decision of the most successful firms of the previous round a la Vega-Redondo (1997). Optimizers play myopic best response to the...
Persistent link: https://www.econbiz.de/10010276582
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Rage against the machines
Dürsch, Peter; Kolb, Albert; Oechssler, Joerg; … - 2005
number of standard learning algorithms. The learning theories are (unbeknown to subjects) a best response process, fictitious … play, imitation, reinforcement learning, and a trial & error process. We test whether subjects try to influence those … and that all learning algorithms are subject to exploitation with the notable exception of imitation. The experiment was …
Persistent link: https://www.econbiz.de/10003379095
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Imitators and Optimizers in Cournot Oligopoly
Schipper, Burkhard - 2005
We analyze a symmetric n-firm Cournot oligopoly with a heterogeneous population of optimizers and imitators. Imitators mimic the output decision of the most successful firms of the previous round à la Vega-Redondo (1997). Optimizers play a myopic best response to the opponents' previous output....
Persistent link: https://www.econbiz.de/10010366551
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Rage against the machines : how subjects learn to play against computers
Dürsch, Peter; Kolb, Albert; Oechssler, Joerg; … - 2005
number of standard learning algorithms. The learning theories are (unbeknown to subjects) a best response process, fictitious … play, imitation, reinforcement learning, and a trial & error process. We test whether subjects try to influence those … and that all learning algorithms are subject to exploitation with the notable exception of imitation. The experiment was …
Persistent link: https://www.econbiz.de/10010366554
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Through trial & error to collusion : the discrete case
Huck, Steffen; Normann, Hans-Theo; Oechssler, Joerg - 2000
In this note we study a very simple trial & error learning process in the context of a Cournot oligopoly. Without any …
Persistent link: https://www.econbiz.de/10011538701
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Motivated reasoning, information avoidance, and default bias
Momsen, Katharina; Schneider, Sebastian O. - 2022
We investigate whether the presence of a default interacts with the willingness of decision-makers to gather, process and consider information. In an online experiment, where about 2,300 participants choose between two compiled charity donation options worth $ 100, we vary the availability of...
Persistent link: https://www.econbiz.de/10013172417
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Motivated reasoning, information avoidance, and default bias
Momsen, Katharina; Schneider, Sebastian O. - 2022
We investigate whether the presence of a default interacts with the willingness of decision-makers to gather, process and consider information. In an online experiment, where about 2,300 participants choose between two compiled charity donation options worth $100, we vary the availability of...
Persistent link: https://www.econbiz.de/10013175566
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Selfless ignorance : too good to be true
Moradi, Homayoon - 2018
learning about a product with positive externalities, a consumer may avoid learning the cost of the product so that she does … might make a few people let go of learning them, it does not increase the rate of altruistic behavior. …
Persistent link: https://www.econbiz.de/10011980324
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It Hurts To Ask
Bénabou, Roland; Jaroszewicz, Ania; Loewenstein, George F. - National Bureau of Economic Research - 2022
We analyze the offering, asking, and granting of help or other benefits as a three-stage game with bilateral private information between a person in need of help and a potential help-giver. Asking entails the risk of rejection, which can be painful: since unawareness of the need can no longer be...
Persistent link: https://www.econbiz.de/10013388842