Search Results - subject:"Adaptive Learning"

Adaptive Learning in Imperfect Monitoring Games

Gilli, Mario - In: Review of Economic Dynamics 2 (1999) 2, pp. 472-485

dependent. I propose a very general model of adaptive learning suitable to study learning problems in games with imperfect … monitoring, such as extensive form games. In this context I relate adaptive learning with a general notion of equilibrium; in … adaptive learning if and only if it is a Conjectural equilibrium. (Copyright: Elsevier) …

Persistent link: https://www.econbiz.de/10005091008

Cobweb Dynamics under Bounded Rationality

Hommes, C.H. - Center for Nonlinear Dynamics in Economics and Finance … - 1999

Price fluctuations under adaptive learning in renewable resource markets such as fisheries are examined. Optimal … expectations equilibria. Under bounded rationality adaptive learning of a linear forecasting rule generates steady state, 2-cycle …

Persistent link: https://www.econbiz.de/10005247736

Chapter 7 Learning dynamics

Evans, George W.; Honkapohja, Seppo - In: Handbook of macroeconomics : volume 1, part A, (pp. 449-542). 1999

themselves may be of interest. While there are various approaches to learning in macroeconomics, the emphasis here is on adaptive … learning schemes in which agents use statistical or econometric techniques in self-referential stochastic systems. Careful …

Persistent link: https://www.econbiz.de/10014024243

Reinforcement-Based Adaptive Learning in Asymmetric Two-Person Bargaining with Incomplete Information

Rapoport, Amnon; Daniel, Terry; Seale, Darryl - In: Experimental Economics 1 (1998) 3, pp. 221-253

The sealed bid k-double auction is a mechanism used to structure bilateral bargaining under two-sided incomplete information. This mechanism is tested in two experiments in which subjects are asked to bargain repeatedly for 50 rounds with the same partner under conditions of information...

Persistent link: https://www.econbiz.de/10005711669

Equilibrium Play in Large Group Market Entry Games

Rapoport, Amnon; Seale, Darryl A.; Erev, Ido; Sundali, … - In: Management Science 44 (1998) 1, pp. 119-141

strategies with repeated play of the stage game that are accounted for by a variant of an adaptive learning model due to Roth and …

Persistent link: https://www.econbiz.de/10009197440

The Road to "Root Cause": Shop-Floor Problem-Solving at Three Auto Assembly Plants

MacDuffie, John Paul - In: Management Science 43 (1997) 4, pp. 479-502

efforts, the normal inertial tendencies of organizations with respect to adaptive learning can be partially overcome. …

Persistent link: https://www.econbiz.de/10009218410

The Mixed Strategy Equilibria and Adaptive Dynamics in the Bar Problem

Cheng, John - Santa Fe Institute - 1996

This paper looks at an N-person coordination game which is called by Brian Arthur as the bar problem. We look at the mixed strategy equilibria and show that there is a unique purely mixed strategy equilibrium in which all players play non-degenerated mixed strategies. We also examine some simple...

Persistent link: https://www.econbiz.de/10005790871

PLANNING TECHNOLOGY INVESTMENTS FOR HIGH PAYOFFS: A RATIONAL EXPECTATIONS APPROACH TO GAUGING POTENTIAL AND REALIZED VALUE IN A CHANGING ENVIRONMENT

Au, Yoris A.; Goh, Kim Huat; Kauffman, Robert J.; … - College of Business, University of Texas-San Antonio

information over time that will permit adaptive learning to occur on the part of senior managers; (3) No matter what the process …

Persistent link: https://www.econbiz.de/10005754995

Learning about Risk and Return: A Simple Model of Bubbles and Crashes

Branch, Wiliam; Evans, George W. - Department of Economics, University of Oregon

This paper demonstrates that an asset pricing model with least-squares learning can lead to bubbles and crashes as endogenous responses to the fundamentals driving asset prices. When agents are risk-averse they generate forecasts of the conditional variance of a stock's return. Recursive...

Persistent link: https://www.econbiz.de/10005763196

Asset Return Dynamics and Learning

Branch, Wiliam; Evans, George W. - Department of Economics, University of Oregon

This paper advocates a theory of expectation formation that incorporates many of the central motivations of behavioral finance theory while retaining much of the discipline of the rational expectations approach. We provide a framework in which agents, in an asset pricing model, underparameterize...

Persistent link: https://www.econbiz.de/10005051490