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...

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

This paper studies social learning and optimal pricing in the presence of location-based social networks, such as Foursquare. We provide an analytic model to resolve the following questions: (1) What is the optimal pricing strategy in location-based networks? (2) How do different pricing...

The increasing pervasiveness of social networks allows users to share purchase behaviors with their online friends. In the present study, we examine optimal pricing strategies of a monopolistic firm using an analytical model that accounts for behavioral observational learning in social networks....

In recent years, there has been stellar growth of location-based/enabled social networks in which people can “check-in” to physical venues they are visiting and share with friends. In this article, we hypothesize that the “check-ins” made by friends help users learn the potential payoff...