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In this paper I define an evolutionary stability criterion for learning rules. Using Monte Carlo simulations, I then apply this criterion to a class of learning rules that can be represented by Camerer and Ho's (1999) model of learning. This class contains perturbed versions of reinforcement and...
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That individuals contribute in social dilemma interactions even when contributing is costly is a well-established observation in the experimental literature. Since a contributor is always strictly worse off than a non-contributor the question is raised if an intrinsic motivation to contribute...
Persistent link: https://www.econbiz.de/10005413874
We analyze stochastic adaptation in finite n-player games played by heterogeneous populations containing best repliers, better repliers, and imitators. Individuals select strategies by applying a personal learning rule to a sample from a finite history of past play. We give sufficient conditions...
Persistent link: https://www.econbiz.de/10005006660
In Young (1993, 1998) agents are recurrently matched to play a finite game and almost always play a myopic best reply to a frequency distribution based on a sample from the recent history of play. He proves that in a generic class of finite n-player games, as the mutation rate tends to zero,...
Persistent link: https://www.econbiz.de/10005649353
Interviewing in professional labour markets is a costly process for firms. Moreover, poor screening can have a persistent negative impact on firms' bottom lines and candidates' careers. In a simple dynamic model where firms can pay a cost to interview applicants who have private information...
Persistent link: https://www.econbiz.de/10005788873
In this paper, we define an evolutionary stability criterion for learning rules. Using simulations, we then apply this criterion to three types of symmetric 2x2 games for a class of learning rules that can be represented by the parametric model of Camerer and Ho [1999. Experience-weighted...
Persistent link: https://www.econbiz.de/10005160982
In this paper, I analyze stochastic adaptation in finite n-player games played by heterogeneous populations of myopic best repliers, better repliers and imitators. In each period, one individual from each of n populations, one for each player role, is drawn to play and chooses a pure strategy...
Persistent link: https://www.econbiz.de/10005190858