shortages, and utility insolvencies in California’s electricity sector. A necessary first step in determining the lessons … learned from the California electricity crisis is a diagnosis of its causes. This requires a clear understanding of the … federal and state regulatory infrastructure that governs the US electricity supply industry. The structure of California …

principles for South Au stralia, Queensland, NSW, Victoria South Africa, Chile, Colorado, Mexico and California. …

uncertainty and learning. We find that the presence of a strategic interaction between the home and foreign central banks creates … an additional motivation for caution in monetary policy. An activist policy designed to help the learning of the home … central bank is suboptimal since it generates a strong reaction from the foreign central bank. As joint learning by the home …

, results depend on the learning scheme that is employed. Here, the learning scheme we investigate is that of least …-squares learning (recursive OLS) using the Kalman filter. A novel feature of a learning- based policy – as against the central bank …

existence of two different regimes depending on learning speed. Finally, classifier systems and neural networks as data mining …

purification with recent results from the rational learning literature. …

Reinforcement learning has proved quite successful in predicting subjects' adjustment behaviour in repeatedly played … simple games. However, reinforcement learning does not predict convergence to the efficient cell in the minimal information … learning rule, a modification of win-stay lose-change, does predict convergence. We perform an experiment using modern economic …

, (ii) the resulting efficiency loss, and (iii) the adjustment of the learning rule. …

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 …

This paper aims at analysing the effects of learning on the individual behaviour in an experiment that requires … apply them also in other situations) and propose new hypothesis. Learning is not only based on a mechanical repetition of …