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We explore the stability of imitation in a 1,200-period experimental Cournot game where subjects do not know the payoff function but see the output quantities and payoffs of each oligopolist after every period. In line with theoretical predictions and previous experimental findings, our...
Persistent link: https://www.econbiz.de/10010194591
We study long-run learning in an experimental Cournot game with no explicit information about the payoff function. Subjects see only the quantities and payoffs of each oligopolist after every period. In line with theoretical predictions and previous experimental findings, duopolies and...
Persistent link: https://www.econbiz.de/10009580852
We study long-run learning in an experimental Cournot game with no explicit information about the payoff function. Subjects see only the quantities and payoffs of each oligopolist after every period. In line with theoretical predictions and previous experimental findings, duopolies and...
Persistent link: https://www.econbiz.de/10009583743
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An irreversible investment opportunity has value V governed by Brownian motion with upward drift and random expiration. Human subjects choose in continuous time when to invest. If she invests before expiration, the subject receives V C: the final value V less a given avoidable cost C. The...
Persistent link: https://www.econbiz.de/10014213974
Imitation of the successful choices of others is a simple and superficially attractive learning rule. It has been shown to be an important driving force for the strategic behavior of (young) adults. In this study we examine whether imitation is prevalent in the behavior of children aged between...
Persistent link: https://www.econbiz.de/10011849211
We demonstrate in a laboratory experiment in which subjects play a two-player Cournot-Tullock game over hundreds of periods of varying length that full accounts of subjects' learning requires the consideration of, both, 'period time' and 'physical time.'
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