AbstractThis paper presents a model of learning about a game. Players initially have little knowledge about the game. Through playing the same game repeatedly, each player not only learns which action to choose but also constructs a personal view of the game. The model is studied using a hybrid payoff matrix of the prisoner's dilemma and coordination games. Results of computer simulations show that (1) when all the players are slow at learning the game, they have only a partial understanding of the game, but might enjoy higher payoffs than in cases with full or no understanding of the game; (2) when one player is quick in learning the game, that player obtains a higher payoff than the others. However, all can receive lower payoffs than in the case in which all players are slow learners.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Dynamics and Control.
Volume (Year): 33 (2009)
Issue (Month): 10 (October)
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Web page: http://www.elsevier.com/locate/jedc
Learning Subjective views Computer simulation;
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