Showing 1 - 10 of 74
. The results show that reinforcement learning leads to dynamics similar to those observed in standard public goods games … explained by reinforcement learning. According to our estimates, learning only accounts for 41 percent of the decay in …, differ strongly from the learning dynamics, while a learning model estimated from the limited information treatment tracks …
Persistent link: https://www.econbiz.de/10011343917
We investigate the effects of information feedback in rent-seeking games with two different contest structures. In the deterministic contest a contestant receives a share of the rent equal to her share of rent-seeking expenditures, while in the stochastic contest a contestant wins the entire...
Persistent link: https://www.econbiz.de/10011154548
Saddlepath learning occurs when agents know the form but not the coefficients of the sad?dlepath relationship defining … rational expectations equilibrium. Under saddlepath learning, we obtain a completely general relationship between determinacy … system is determinate, we show that a learning process based on the saddlepath is always e-stable. When the system is …
Persistent link: https://www.econbiz.de/10008615270
the existing literature, which typically focuses on the learning of private agents during a disinflation.  We build a …
Persistent link: https://www.econbiz.de/10009364587
We introduce learning into a Hotelling model of a non-renewable resource market. Bycombining learning and scarcity we … add signi?cantly to the dynamics implied by learning and substantially enhance the volatility of commodity prices. In our … learning model we show how a self con?rming equilibrium exists but is not constant over time. As scarcity increases the SCE …
Persistent link: https://www.econbiz.de/10008670365
We test if confusion and learning could potentially explain all the decay of contributions in the repeated public goods … decline is more than twice as high in a standard public goods game. Furthermore, we find that simple learning cannot generate … cooperative behavior observed in public goods games is not a pure artefact of confusion and learning. …
Persistent link: https://www.econbiz.de/10008672234
Saddlepath learning occurs when agents learn adaptively using a perceived law of motion that has the same form as the … saddlepath relationship in rational expectations equilibrium.  Under saddlepath learning, we obtain a completely general … information.  When the system is determinate, we show that a learning process based on the saddlepath is always e-stable.  When …
Persistent link: https://www.econbiz.de/10008673298
We investigate the effects of information feedback in rent-seeking games with two different contest structures. In the share contest a contestant receives a share of the rent equal to her share of rent-seeking expenditures, while in the lottery contest a contestant wins the entire rent with...
Persistent link: https://www.econbiz.de/10010729796
learning cannot generate the kind of contribution dynamics commonly attributed to the existence of conditional cooperators. We … learning. Copyright Economic Science Association 2013 …
Persistent link: https://www.econbiz.de/10010866253
The combination of learning and depletion in non-renewable resource markets adds significant volatility to commodity … sensitive price is to supply. Learning leads to changes in these perceptions and hence the revision of depletion plans, which …
Persistent link: https://www.econbiz.de/10010868936