Showing 1 - 10 of 539
number of standard learning algorithms. The learning theories are (unbeknown to subjects) a best response process, fictitious … play, imitation, reinforcement learning, and a trial & error process. We test whether subjects try to influence those … and that all learning algorithms are subject to exploitation with the notable exception of imitation. The experiment was …
Persistent link: https://www.econbiz.de/10005407609
While many learning models have been proposed in the game theoretic literature to track individuals’ behavior … learning models in light of a laboratory experiment on responsiveness in a lowinformation dynamic game subject to changes in … its underlying structure. While history-dependent reinforcement learning models track convergence of play well in repeated …
Persistent link: https://www.econbiz.de/10005062390
performance. Measured performance equals actual performance plus noise. We compare a stable environment where the noise is small … with a volatile environment where the noise is large. Subjects exert significantly more effort in the volatile environment …
Persistent link: https://www.econbiz.de/10005144498
of evolutionary and learning processes in this game. Only the continuous best response dynamic uniquely selects the … Stackelberg outcome under noise. All other dynamics analyzed allow for the Cournot equilibrium to be selected. In typical cases … Cournot is the unique long run outcome even for vanishing noise in the signal. …
Persistent link: https://www.econbiz.de/10005550927
purification with recent results from the rational learning literature. …
Persistent link: https://www.econbiz.de/10005407541
We perform a further experiment to check the robustness of the main result in Rey Biel (2005) to sequential play. We find that Equilibrium predictions work even better when the same games are played sequentially: 85% of first movers choose the Equilibrium strategy and 85% of second movers best...
Persistent link: https://www.econbiz.de/10005556675
In a laboratory experiment, subjects played ten two-person 3x3 constant sum games and stated beliefs about the frequencies of play by their opponents. Contrary to previous experimental evidence, game-theoretical predictions work well: 80% of actions coincided with Nash equilibrium, subjects were...
Persistent link: https://www.econbiz.de/10005125558
Earlier experiments have shown that under little information subjects are hardly able to coordinate even though there …, (ii) the resulting efficiency loss, and (iii) the adjustment of the learning rule. …
Persistent link: https://www.econbiz.de/10005407575
The growing literature on learning in games has produced various results on the predictive success of learning theories … four games in order to check on the robustness of rankings among learning rules across measures. We characterise measures … apply all thus defined measures to 12 learning rules. The results show that rankings are indeed sensitive to the measure …
Persistent link: https://www.econbiz.de/10005408228
The results of Ultimatum Game experiments are often quoted as evidence for the role of fairness in bargaining or in … of pairs of players shows that different types of players coexist in the subject pool. Whereas previous experiments found …
Persistent link: https://www.econbiz.de/10005408237