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We use an experiment to explore how subjects learn to play against computers which are programmed to follow one of a … and that all learning algorithms are subject to exploitation with the notable exception of imitation. The experiment was …
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This paper analyzes the effect of the availability of information about the payoff structure on the behavior of players in a Common-Pool Resource game. Six groups of six individuals played a complete information game, while other six groups played the same game but with no information about the...
Persistent link: https://www.econbiz.de/10011538855
We report an experiment on a decision task by SAMUELSON and BAZERMAN (1985). Subjects submit a bid for an item with an … unknown value. A winner s curse phenomenon arises when subjects bid too high and make losses. Learning direction theory can … account for this. However, other influences on behaviour can also be identified. We introduce impulse balance theory to make …
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an experiment designed to test whether players learn a) the relevant features of the payoff structure of a 2x2 game (e …
Persistent link: https://www.econbiz.de/10011539825
theory of melioration is to exclusively play A, while the Nash equilibrium is to almost exclusively play B. The predictive …
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