Adaptive Learning, Adaptive Utility, and Rational Behavior in a Repeated Prisoner's Dilemma.

Two dimensions of learning are explored in a repeated prisoners dilemma experiment. Subjects update their perceptions of the true model of their opponents' behavior. Subjects also update their beliefs about the opponents' likely future behavior, conditional on the true model. Both forms of learning are consistent with models of adaptive rational behavior that have appeared in the literature. Copyright 1989 by Kluwer Academic Publishers

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Year of publication:	1989
Authors:	Moore, Michael J ; Moore, Marian Chapman
Published in:	Journal of Risk and Uncertainty. - Springer. - Vol. 2.1989, 4, p. 367-83
Publisher:	Springer

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005542740