This paper studies adaptive learning in extensive form games and provides conditions for convergence points of adaptive learning to be sequential equilibria. Precisely, we present a set of conditions on learning sequences such that an assessment is a sequential equilibrium if and only if there...

This paper studies how updating affects ambiguity-attitude. In particular we focus on the generalized Bayesian update of the Jaffray-Phillipe sub-class of Choquet Expected Utility preferences. We find conditions for ambiguity-attitude to be the same before and after updating. A necessary and...

This paper studies how updating affects ambiguity-attitude. In particular we focus on the generalized Bayesian update of the Jaffray-Phillipe sub-class of Choquet Expected Utility preferences. We find conditions for ambiguity-attitude to be the same before and after updating. A necessary and...

We consider mixed populations (N=21) of genuine (humans) and artificial (robots) agents, repeatedly interacting in small groups whose composition is changed randomly from round to round. Our purpose is to study the spread of cooperative or non-cooperative behavior in the population over time by...

This paper investigates the way in which adaptive players behave in the long run in finitely repeated games. Each player assigns subjective payoff assessments to his own actions and chooses the action which has the highest assessment at each of his information sets. After receiving payoffs,...

We study investment and consumption decisions in a dynamic game under learning. To that end, we present a model in which agents not only extract a resource for consumption, but also invest in technology to improve the future stock. At the same time, the agents learn about the stochastic process...

We test whether deviations from Nash equilibrium in rent-seeking contests can be explained by the slow convergence of payoff-based learning. We identify and eliminate two sources of noise that slow down learning. The first source of noise is present because each action is evaluated against a...

A sunspot variable is any random variable that is not related to fundamental factors of the economy but a potential coordination device. The coordination power of sunspots has been analysed in theory and in experiments. However, some have discussed whether sunspots, e.g., public announcements...

We study investment and consumption decisions in a dynamic game under learning. To that end, we present a model in which agents not only extract a resource for consumption, but also invest in technology to improve the future stock. At the same time, the agents learn about the stochastic process...