Showing 1 - 10 of 12,812
. 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
Persistent link: https://www.econbiz.de/10008657601
. 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/10009735336
This paper studies a game of strategic experimentation with two-armed bandits whose risky arm might yield a payoff only after some exponentially distributed random time. Because of free-riding, there is an inefficiently low level of experimentation in any equilibrium where the players use...
Persistent link: https://www.econbiz.de/10010440933
learning cannot generate the kind of contribution dynamics commonly attributed to the existence of conditional cooperators. We … learning. -- voluntary contribution mechanism ; public goods experiments ; learning ; limited information ; confusion …
Persistent link: https://www.econbiz.de/10009690143
We build a model studying the effect of an economy's potential for social learning on the adoption of innovations of … qualitative and quantitative features of the learning environment affect equilibrium adoption dynamics, welfare, and the speed of … learning. Based on this, we show how differences in the learning environment translate into observable differences in adoption …
Persistent link: https://www.econbiz.de/10015135353
We experimentally implement a dynamic public-good problem, where the public good in question is the dynamically evolving information about agents' common state of the world. Subjects' behavior is consistent with free-riding because of strategic concerns. We also find that subjects adopt more...
Persistent link: https://www.econbiz.de/10012598548
forward-looking, their incentive to wait and see other agents' experiences poses a significant obstacle to social learning. We …
Persistent link: https://www.econbiz.de/10015047806
In this paper, I test the predictions of rational inattention theory using a laboratory experiment where one role in a two-player game faces cognitive costs to process information about a payoff-relevant state. I find that subjects who face these unobservable cognitive costs have state-dependent...
Persistent link: https://www.econbiz.de/10014132627
We study how cooperative behavior reacts to selective (favorable or unfavorable) pre-play information about the cooperativeness of other, unrelated groups within an experimental framework that is sufficiently rich for conflicting behavioral norms to emerge. We find that cooperation crucially...
Persistent link: https://www.econbiz.de/10013068396