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estimated EWA learning models which suffered from overfitting. Subjects modified their strategies in the direction of better … response as calculated from CA simulations of various learning models, albeit not perfectly. Examples include the observation …
Persistent link: https://www.econbiz.de/10005789888
The authors (Cason, Friedman and Hopkins, Review of Economic Studies, 2014) claimed that control treatments (using simultaneous matching in discrete time) replicate previous results that exhibit weak or no cycles. After correcting two mathematical mistakes in their cycles tripwire algorithm, we...
Persistent link: https://www.econbiz.de/10011114182
number of standard learning algorithms. The learning theories are (unbeknown to subjects) a best response process, fictitious … play, imitation, reinforcement learning, and a trial & error process. We test whether subjects try to influence those … and that all learning algorithms are subject to exploitation with the notable exception of imitation. The experiment was …
Persistent link: https://www.econbiz.de/10005785934
We use experiments to analyze what type of communication is most effective in achieving cooperation in a simple …
Persistent link: https://www.econbiz.de/10008558586
different cognitive abilities learn differently, we estimate a structural model of learning based on level-k reasoning. We find …
Persistent link: https://www.econbiz.de/10011259076
We show that for many classes of symmetric two-player games, the simple decision rule "imitate-the-best" can hardly be beaten by any other decision rule. We provide necessary and sufficient conditions for imitation to be unbeatable and show that it can only be beaten by much in games that are of...
Persistent link: https://www.econbiz.de/10008615619
How can a rational player strategically control a myopic best reply player in a repeated two-player game? We show that in games with strategic substitutes or strategic complements the optimal control strategy is monotone in the initial action of the opponent, in time periods, and in the discount...
Persistent link: https://www.econbiz.de/10009001176
a refinement of subgame-perfection, known as renegotiation proofness, and the second is an aspiration-based learning …
Persistent link: https://www.econbiz.de/10009422023
to be employing a simple heuristic alternative to more complex learning models. Simulations of these various belief …
Persistent link: https://www.econbiz.de/10005011947
This article examines behavior in the two-player, constant-sum Colonel Blotto game with asymmetric resources in which players maximize the expected number of battlefields won. The experimental results support the main qualitative predictions of the theory. In the auction treatment, where winning...
Persistent link: https://www.econbiz.de/10011258037