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of initial aspirations. Applications to games of coordination, cooperation, oligopoly, and electoral competition are … a fixed set of aspirations used to evaluate payoff experiences as successes or failures. The probability weight on … rule is supplemented by small amounts of inertia and random perturbations to the states of players. Aspirations are …
Persistent link: https://www.econbiz.de/10014588979
Experiment participants in a social dilemma game choose cooperation over defection, even though neither is more … beneficial. High levels of cooperation cannot be explained by favorable labels for actions, collusion, k-level reasoning, quantal …) preference model. However, cooperation rates fall with changes in payoffs, which cannot be explained by the standard formulation …
Persistent link: https://www.econbiz.de/10015371413
together rather than investing separately. We study the coordination and cooperation problems that might hinder successful … how much their partners invest. Moreover, subjects deal better with the coordination and cooperation problems as they gain … collaboration in a dynamic network setting. We develop an experiment in which coordination problems are mainly due to finding …
Persistent link: https://www.econbiz.de/10008682975
that subjects who play the risky but efficient action in a simple coordination game (i.e., play stag in a stag hunt game …
Persistent link: https://www.econbiz.de/10015421930
An economy consists of many duopolistic markets. Firms must earn normal profits in the long run if they are to survive. Normal profits are interpreted as the long-run limit of average profits in the whole economy. We adopt the aspiration based model of firm behaviour, and link it to the economy...
Persistent link: https://www.econbiz.de/10005504330
A valuation for a board game is an assignment of numeric values to different states of the board. The valuation reflects the desirability of the states for the player. It can be used by a player to decide on her next move during the play. We assume a myopic player, who chooses a move with the...
Persistent link: https://www.econbiz.de/10005118654
A choice prediction competition is organized that focuses on decisions from experience in market entry games (http://sites.google.com/site/gpredcomp/ and http://www.mdpi.com/si/games/predict-behavior/). The competition is based on two experiments: An estimation experiment, and a competition...
Persistent link: https://www.econbiz.de/10008682972
coordination games, but antagonistic games generally lead to more favorable outcomes if the individuals only change their …
Persistent link: https://www.econbiz.de/10010736494
Utilizing the well-known Ultimatum Game, this note presents the following phenomenon. If we start with simple stimulus-response agents, learning through naive reinforcement, and then grant them some introspective capabilities, we get outcomes that are not closer but farther away from the fully...
Persistent link: https://www.econbiz.de/10005827502
Adaptive learning models that have been tested against experimental data typically share two features: (i) initial attractions (or beliefs) are given exogenously, and (ii) learning is based on the performance of stage-game actions rather than repeated game strategies. We develop a model of...
Persistent link: https://www.econbiz.de/10005550925