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Strategy Similarity and Coordination

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Author Info

  • Rajiv Sarin
  • Farshid Vahid

Abstract

In the payoff assessment model of choice ( Sarin and Vahid, 1999), only the assessment of the chosen strategy is updated. We extend that model to allow the agent to also update the assessments of strategies that the agent thinks are similar to the chosen strategy. We use this model to explain observed behaviour in a recent experiment. Statistical tests cannot distinguish between the payoff distributions generated by the model and the observed payoff distributions in almost every period. Copyright 2004 Royal Economic Society.

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Bibliographic Info

Article provided by Royal Economic Society in its journal The Economic Journal.

Volume (Year): 114 (2004)
Issue (Month): 497 (07)
Pages: 506-527

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Handle: RePEc:ecj:econjl:v:114:y:2004:i:497:p:506-527

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Cited by:
  1. Ralph-C Bayer & Elke Renner & Rupert Sausgruber, 2009. "Confusion and Reinforcement Learning in Experimental Public Good Games," Discussion Papers 2009-18, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
  2. Ralph-C Bayer & Elke Renner & Rupert Sausbruber, 2012. "Confusion and Learning in the Voluntary Contributions Game," Discussion Papers 2012-18, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
  3. Dürsch, Peter & Kolb, Albert & Oechssler, Jörg & Schipper, Burkhard, 2005. "Rage Against the Machines - How Subjects Learn to Play Against Computers," Sonderforschungsbereich 504 Publications 05-36, Sonderforschungsbereich 504, Universität Mannheim & Sonderforschungsbereich 504, University of Mannheim.
  4. Peter Duersch & Albert Kolb & Jörg Oechssler & Burkhard Schipper, 2010. "Rage against the machines: how subjects play against learning algorithms," Economic Theory, Springer, vol. 43(3), pages 407-430, June.

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