I present a model of observational learning with payoff interdependence. Agents, ordered in a sequence, receive private … signals about an uncertain state of the world and sample previous actions. Unlike in standard models of observational learning … unbounded strength there is learning in a strong sense: agents' actions are ex-post optimal given both the state of the world …

history-dependent component to prices of risk. …

demand. The former learning effect, combined with the latter real-options effect, adversely affect firms' entry decisions and …

behavioural models suggested by psychology (i.e., weighted probabilities applied to regret and rejoice theory), and by updating … probability estimations and outcome preferences according to the learning models suggested by neuroscience (i.e., adaptive … learning aimed at reducing surprises), and analogous to Bayesian updating. The search context is derived from experimental …

In this study, we propose a multi-agent model to examine bank lending and borrowing risk behaviors and their … bank decisions using the temporal difference reinforcement learning algorithm based on banks' lending preferences and … interbank networks as they change with bank risk preferences, and thus facilitates the analysis of the banking systems stability …

We propose a framework in order to econometrically estimate case-based learning and apply it to empirical data from … twelve 2 × 2 mixed strategy equilibria experiments. Case-based learning allows agents to explicitly incorporate information …-based learning to other learning models (reinforcement learning and self-tuned experience weighted attraction learning) while using …

We introduce learning in a dynamic game of international pollution, with ecological uncertainty. We characterize and … ecological uncertainty but they gain information (learn) about it. We then compare our learning model with the benchmark model of … anticipative learning induces a decrease in total emissions, but not necessarily in individual emissions. Further, the effect of …

role of learning and risk aversion. It bridges two strands of literature: one focused on the role learning for the success … aversion on IEA formation under no learning. Combining learning and risk aversion seems appropriate as the uncertainties … through learning. It is shown that the negative conclusion with respect to the role of learning derived for risk neutrality …