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This paper gives a critical account of the minority game literature. The minority game is a simple congestion game: players need to choose between two options, and those who have selected the option chosen by the minority win. The learning model proposed in this literature seems to differ...
Persistent link: https://www.econbiz.de/10011091847
We present a model of adaptive economic agents who are k periods forward looking. Agents in our model are randomly matched to interact in finitely repeated games. They form beliefs by learning from past behavior of others and then best respond to these beliefs looking k periods ahead. We...
Persistent link: https://www.econbiz.de/10011116889
We study one-shot play in the set of all bimatrix games by a large population of agents. The agents never see the same game twice, but they can learn `across games' by developing solution concepts that tell them how to play new games. Each agent's individual solution concept is represented by a...
Persistent link: https://www.econbiz.de/10012848319
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This paper uses experimental data to analyze how competitive behavior is influenced by coaching and peer observation. We study behavior in a sequential contest, considering information about the effort level of subjects in other contests (observation of peers) and information about the...
Persistent link: https://www.econbiz.de/10011117230
The aim of this work is presenting in a self-contained paper some methodological aspects as they are received in the current experimental literature. The purpose has been to make a critical review of some very influential papers dealing with methodological issues. In other words, the idea is to...
Persistent link: https://www.econbiz.de/10005626840
The text focuses on the implementation of experiental learning techniques in a seminar in experimental economics. The seminar aims at deepening students' understanding of particular topics in behavioral economics as well as introducing the experimental approach as a research method. We argue...
Persistent link: https://www.econbiz.de/10014221124
We design a novel experiment to study how subjects update their beliefs about the beliefs of others. Three players receive sequential signals about an unknown state of the world. Player 1 reports her beliefs about the state; Player 2 simultaneously reports her beliefs about the beliefs of Player...
Persistent link: https://www.econbiz.de/10013219936
In this note, we present a novel computerized real effort task based on moving sliders across a screen which overcomes many of the drawbacks of existing real effort tasks. The task was first developed and used by us in Gill and Prowse (American Economic Review, forthcoming). We outline the...
Persistent link: https://www.econbiz.de/10013122979