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We show that economic decisions in strategic settings are co-determined by multiple behavioral rules. A simple model of intra-individual behavioral heterogeneity predicts testable differences depending on whether rules share a common prescription (alignment) or not (conflict), a classification...
Persistent link: https://www.econbiz.de/10012052579
players imitate successful opponents. We postulate that players sometimes rely on imitation of successful behavior, and …
Persistent link: https://www.econbiz.de/10012244618
players imitate successful opponents. We postulate that players sometimes rely on imitation of successful behavior, and …
Persistent link: https://www.econbiz.de/10012243082
Persistent link: https://www.econbiz.de/10012599892
We explore the effects of the provision of an information-processing instrument - payoff tables - on behavior in experimental oligopolies. In one experimental setting, subjects have access to payoff tables whereas in the other setting they have not. It turns out that this minor variation in...
Persistent link: https://www.econbiz.de/10008516592
makes markets more competitive. Reinforcement learning also plays a role, as subjects favor strategies that have yielded …
Persistent link: https://www.econbiz.de/10011730377
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/10011422135
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/10010333843
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
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