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A stylized fact from laboratory experiments is that there is much heterogeneity in human behavior. We present and demonstrate a computationally practical non-parametric Bayesian method for characterizing this heterogeneity. In addition, we define the concept of behaviorally distinguishable...
Persistent link: https://www.econbiz.de/10012167865
A stylized fact from laboratory experiments is that there is much heterogeneity in human behavior. We present and demonstrate a computationally practical non-parametric Bayesian method for characterizing this heterogeneity. In addition, we define the concept of behaviorally distinguishable...
Persistent link: https://www.econbiz.de/10012891268
Persistent link: https://www.econbiz.de/10008765478
We report experimental results using a multi-task for simple two-player, two- stage extensive-form games. It is suggested that by creating the perception of a "level playing field" the participants are relieved of responsibility for others since competition on a level playing field is presumed...
Persistent link: https://www.econbiz.de/10005699669
"In the future data communication networks interoperability becomes critical from both technological and business strategy perspective. Significance of interoperability has to be evaluated in terms of the overall economic performance of the system. In this paper we will present our view of the...
Persistent link: https://www.econbiz.de/10009468314
A stylized fact from laboratory experiments is that there is much heterogeneity in human behavior. We present and demonstrate a computationally practical non-parametric Bayesian method for characterizing this heterogeneity. In addition, we define the concept of behaviorally distinguishable...
Persistent link: https://www.econbiz.de/10012227785
Persistent link: https://www.econbiz.de/10008765502
How well do various learning models predict the dynamics of the population distribution of play in a variety of games? We measure and compare the in-sample and out-of-sample prediction performance of seven action-reinforcement learning models as well as Rule Learning for symmetric normal-form...
Persistent link: https://www.econbiz.de/10014084420
We test the population rule learning model for symmetric normal-form games, and strongly reject: (i) no rule learning, (ii) no diversity, and (iii) no sophisticated evidence. Further, trembles and herd behavior decline and level-2 behavior increases over time
Persistent link: https://www.econbiz.de/10014084426
We prove that every well-defined behavioral rule can be interpreted as being optimization-based. Therefore, the categorical distinction between boundedly-rational behavior and optimization-based behavior asserted by Harstad and Selten (2013) does not entail a substantive difference
Persistent link: https://www.econbiz.de/10013059946