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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 number of standard learning algorithms. The learning theories are (unbeknown to subjects) a best response process, fictitious play, imitation, reinforcement learning, and a trial...
Persistent link: https://www.econbiz.de/10003379095
We introduce a generalized theoretical approach to study imitation and subject it to rigorous experimental testing. In our theoretical analysis we find that the different predictions of previous imitation models are due to different informational assumptions, not to different behavioral rules....
Persistent link: https://www.econbiz.de/10003023525
replicate and review earlier cascade experiments. Finally, we study reputation effects (i.e., the influence of success models …
Persistent link: https://www.econbiz.de/10003380747
To carry out the analysis required for monetary policy, the European Central Bank (ECB) and the European System of Central Banks (ESCB) need comprehensive and reliable government finance statistics. The focus of government finance statistics has traditionally been the government as a whole...
Persistent link: https://www.econbiz.de/10013540742