In dynamic environments where the strategic setting evolves across time, the specific rule governing the transitions can substantially alter the incentives agents face. This is particularly true when history-dependent strategies are used. In a laboratory study, we examine whether subjects...

In dynamic environments where the strategic setting evolves across time, the specific rule governing the transitions can substantially alter the incentives agents face. This is particularly true when history‐dependent strategies are used. In a laboratory study, we examine whether subjects...