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 …

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 …

experiments in contrast to analog experimental results on price-competition in the literature. …

Adaptive learning and punishment are highly prominent competing explanations for ultimatum game behavior. We report on … way. Our data exhibits patterns for which punishment can account but learning by itself cannot. Initial play varies …

equilibrium of the game does not organize the individual data, two individual learning models are studied: one following a … predictive value of such learning models is found to be poor. …