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We introduce a generalized theoretical approach to study imitation models and subject themodels to rigorous … experimental testing. In our theoretical analysis we find that the differentpredictions of previous imitation models are due to …. In alaboratory experiment we test the different theories by systematically varying informationconditions. We find that …
Persistent link: https://www.econbiz.de/10011509505
laboratory experiment we test the different theories by systematically varying information conditions. We find significant … effects of seemingly innocent changes in information. Moreover, the generalized imitation model predicts the differences …We introduce a generalized theoretical approach to study imitation and subject it to rigorous experimental testing. In …
Persistent link: https://www.econbiz.de/10003023525
A well-known result by Vega-Redondo implies that in symmetric Cournot oligopoly, imitation leads to the Walrasian … actions will be played some fraction of the time in the long run. We then conduct experiments to check this fragility. We …
Persistent link: https://www.econbiz.de/10003593007
. In a laboratory experiment we test the different theories by systematically varying information conditions. We find that …We introduce a generalized theoretical approach to study imitation models and subject the models to rigorous … experimental testing. In our theoretical analysis we find that the different predictions of previous imitation models are due to …
Persistent link: https://www.econbiz.de/10010270576
. In a laboratory experiment we test the different theories by systematically varying information conditions. We find that …We introduce a generalized theoretical approach to study imitation models and subject the models to rigorous … experimental testing. In our theoretical analysis we find that the different predictions of previous imitation models are due to …
Persistent link: https://www.econbiz.de/10013319694
A well-known result by Vega-Redondo (1997) implies that in symmetric Cournot oligopoly, imitation leads to the … identical actions will be played some fraction of the time in the long run. We then conduct experiments to check this fragility …
Persistent link: https://www.econbiz.de/10012772613
and that all learning algorithms are subject to exploitation with the notable exception of imitation. The experiment was …We use an experiment to explore how subjects learn to play against computers which are programmed to follow one of a … play, imitation, reinforcement learning, and a trial & error process. We test whether subjects try to influence those …
Persistent link: https://www.econbiz.de/10010366554
The paper presents the concept of an imitation equilibrium and explores it in the context of some simple oligopoly … be suitable for imitation for various reasons. Only one of the most successful of the remaining members of the reference … group is imitated. Imitation is the adoption of the imitated player's strategy. Imitation equilibrium does not only mean …
Persistent link: https://www.econbiz.de/10011538885
Persistent link: https://www.econbiz.de/10001548848
choices with data on the information acquisition process they follow. Subjects play a repeated Cournot oligopoly, with limited …This paper presents an experiment on learning in repeated games, which complements the analysis of players' actual … a priori information. The econometrics hinges on a model built upon Experience Weighted Attraction learning, and the …
Persistent link: https://www.econbiz.de/10011730377