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Learning in Networks – An Experimental Study Using Stationary Concepts

Berninghaus, Siegfried - 2012

Our study analyzes theories of learning for strategic interactions in networks. Participants played two of the 2 x 2 games used by Selten and Chmura (2008). Every participant played against four neighbors and could choose a different strategy against each of them. The games were played in two...

Persistent link: https://www.econbiz.de/10013098736

Equilibrium Play and Learning in a Stochastic Public Goods Experiment

Banerjee, Priyodorshi - 2012

which very negligible benefits are received by community members. Our theory predicts that the presence of such a “pass mark … significantly increase the incidence of free-riding, even when the theory predicts the opposite. In general, the mixed strategy Nash … that fit observed play in the laboratory much better than the earlier “steady state” theory predictions …

Persistent link: https://www.econbiz.de/10013107187

On the Impulse in Impulse Learning

Ding, Jieyao - 2013

This paper experimentally investigates the nature of impulses in impulse learning. Particularly, we analyze whether positive feedback (i.e., yielding a superior payo in a game) or negative feedback (i.e., yielding an inferior payo in a game) leads to a systematic change in the individual...

Persistent link: https://www.econbiz.de/10013085982

Learning About Unstable, Publicly Unobservable Payoffs

Payzan-LeNestour, Elise - 2014

Neoclassical finance assumes that investors are Bayesian. In many realistic situations, Bayesian learning is challenging. Here, we consider investment opportunities that change randomly, while payoffs are observable only when invested. In a stylized version of the task, we wondered whether...

Persistent link: https://www.econbiz.de/10013066113

Learning in a Black Box

Nax, Heinrich H. - 2015

and they cannot observe other agents' actions or payoffs. Theory shows that even when players have no such information …

Persistent link: https://www.econbiz.de/10013014874

Confidence in Knowledge or Confidence in the Ability to Learn : an Experiment on the Causal Effects of Beliefs on Motivation

Fischer, Mira - 2018

Previous research has shown that feedback about past performance has ambiguous effects on subsequent performance. We argue that feedback affects beliefs in different dimensions – namely beliefs about the level of human capital and beliefs about the ability to learn – and this may explain...

Persistent link: https://www.econbiz.de/10012926724

Traders, Forecasters and Financial Instability : A Model of Individual Learning of Anchor-and-Adjustment Heuristics

Makarewicz, Tomasz - 2019

Behavioral and experimental literature on financial instability focuses on either subjective price expectations (Learning-to-Forecast experiments) or individual trading (Learning-to-Optimize experiments). Bao et al. (2018) have shown that subjects have problems with both tasks. In this paper, I...

Persistent link: https://www.econbiz.de/10012894616

Learning Under Compound Risk vs. Learning Under Ambiguity - An Experiment

Moreno, Othon M. - 2020

We design and conduct an economic experiment to investigate the learning process of agents under compound risk and under ambiguity. We gather data for subjects choosing between lotteries involving risky and ambiguous urns. Agents make decisions in conjunction with a sequence of random draws with...

Persistent link: https://www.econbiz.de/10012856105

Errors in Learning from Others' Choices

Foroughifar, Mohsen - 2021

Observation of other people's choices can provide useful information in many circumstances. However, individuals may not utilize this information efficiently, i.e., they may make decision-making errors in social interactions. In this paper, I use a simple and transparent experimental setting to...

Persistent link: https://www.econbiz.de/10013251576

Private and Social Learning with Endogenous Timing : An Experimental Analysis

Jamison, Julian C. - 2015

We conducted laboratory experiments to investigate how private and public information affect the selection and timing of technology adoption. Our experiments extend the standard herding model to more accurately represent the innovation decision problem. Subjects drew private signals and observed...

Persistent link: https://www.econbiz.de/10013035338