Showing 1 - 10 of 2,947
Motivated by the idea that lack of experience is a source of errors but that experience should reduce them, we model agents' behavior using a stochastic choice model, leaving endogenous the accuracy of their choice. In some games, increased accuracy is conducive to unstable best-response...
Persistent link: https://www.econbiz.de/10014344184
We study learning by privately informed forward-looking agents in a simple repeated-action setting of social learning. Under a symmetric signal structure, forward-looking agents behave myopically for any degrees of patience. Myopic equilibrium is unique in the class of symmetric threshold...
Persistent link: https://www.econbiz.de/10014263855
This review presents the well-known notion of merging, introduced by Blackwell and Dubins, and its later generalizations. While the original concept of merging refers to all future events, the two new concepts, of weak and of almost weak merging, are concerned only with forecasting near-future...
Persistent link: https://www.econbiz.de/10014172018
Persistent link: https://www.econbiz.de/10003896717
How well do various learning models predict the dynamics of the population distribution of play in a variety of games? We measure and compare the in-sample and out-of-sample prediction performance of seven action-reinforcement learning models as well as Rule Learning for symmetric normal-form...
Persistent link: https://www.econbiz.de/10014084420
We test the population rule learning model for symmetric normal-form games, and strongly reject: (i) no rule learning, (ii) no diversity, and (iii) no sophisticated evidence. Further, trembles and herd behavior decline and level-2 behavior increases over time
Persistent link: https://www.econbiz.de/10014084426
This chapter introduces readers to the broader network of strategies to which action learning may be considered an important hub. For very pragmatic purposes, action learning, according to the author, needs to link with its natural cousins, referred to as ‘action modalities.’ After providing...
Persistent link: https://www.econbiz.de/10014174863
Parliamentary institutions and partisan norms are complex, and new members of parliament are unlikely to possess an innate awareness of optimal behavior. This paper examines how new legislators adopt the behavioral patterns of incumbent members in the 6th European Parliament. The 6th EP provides...
Persistent link: https://www.econbiz.de/10014181637
For many years psychological studies of the learning process have used a simulated medical diagnosis task in which symptom configurations are probabilistically related to diseases. Participants are given a set of symptoms and asked to indicate which disease is present, and feedback is given on...
Persistent link: https://www.econbiz.de/10014216348
We present an experiment for the study of learning in a complex task which requires both memorisation and the ability to process several pieces of information. The outcome of an action, for which immediate feedback is given, depends on the context (i.e. one of thirty-two sequences of three...
Persistent link: https://www.econbiz.de/10014223185