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purification with recent results from the rational learning literature. …
Persistent link: https://www.econbiz.de/10005407541
The diffusion of a new product of uncertain value is analyzed in a duopolistic market in continuous time. The two sides of the market, buyers and sellers, learn the true value of the new product over time as a result of experimentation. Buyers have heterogeneous preferences over the products and...
Persistent link: https://www.econbiz.de/10005463873
learning process of purely and impurely altruistic agents and find that in both cases the contribution level converges towards … corresponds to findings from experiments on voluntary contribution to a public good. Crucial determinants of the learning process …
Persistent link: https://www.econbiz.de/10005464714
metaphor for social learning. This paper will face the question what an economist can learn from the mathematical branch of … algorithm learning is a compound of three different learning schemes. First, every particular scheme is analyzed. Then it will … be pointed out that it is the combination of the three schemes that gives genetic algorithm learning its special flair: A …
Persistent link: https://www.econbiz.de/10005464763
The paper analyzes a dynamic model of rational strategic learning in a network. It complements existing literature by … links. This means that in the design of networks there exists a trade-off between the speed of learning and accuracy. …
Persistent link: https://www.econbiz.de/10011098700
are in the dark about others' actions and the payoff structure.  This paper analyzes learning behavior in such 'black box … we study voluntary contributions games.  We identify two robust features of the players' learning dynamics: search …
Persistent link: https://www.econbiz.de/10011158994
different cognitive abilities learn differently, we estimate a structural model of learning based on level-k reasoning. We find …
Persistent link: https://www.econbiz.de/10011259076
In this paper we study the typical dilemma of social coordination between a risk- dominant convention and a payoff-dominant convention. In particular, we consider a model where a population of agents play a coordination game over time, choosing both the action and the network of agents with whom...
Persistent link: https://www.econbiz.de/10011262780
possibility for learning to act as coordination device. We build on the framework proposed by Angeletos and Pavan (2007) and … adaptive and eductive learning obtain, and show that adaptive learning conditions are less demanding than the eductive ones: in … in the economy. We also show that adaptive learning dynamics converge to the game theoretical strategic equilibrium …
Persistent link: https://www.econbiz.de/10011112721
by belief hysteresis, where learning in active regime fuels optimism, propelling an expansion. After an inevitable regime …
Persistent link: https://www.econbiz.de/10011112791