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Recent literature has questioned the existence of a learning foundationfor the partially cursed equilibrium. This paper closes the gap by showingthat a partially cursed equilibrium corresponds to a particular analogy-based expectation equilibrium.
Persistent link: https://www.econbiz.de/10005866430
Most research in economics models agents somehow motivated by out-comes. Here, we model agents motivated by procedures instead, whereprocedures are dened independently of an outcome. To that end, wedesign procedures which yield the same expected outcomes or carry thesame information on other's...
Persistent link: https://www.econbiz.de/10009022177