The authors examine learning in all experiments they could locate involving one hundred periods or more of games with a unique equilibrium in mixed strategies, and in a new experiment. They study both the ex post ('best fit') descriptive power of learning models, and their ex ante predictive...

We elicit traders' predictions of future price trajectories in repeated experimental markets for a 15-period-lived asset. We find that individuals' beliefs about prices are adaptive, and primarily based on past trends in the current and previous markets in which they have participated. Most...