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Learning by trial and error

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  • Young, H. Peyton

Abstract

A person learns by trial and error if he occasionally tries out new strategies, rejecting choices that are erroneous in the sense that they do not lead to higher payoffs. In a game, however, strategies can become erroneous due to a change of behavior by someone else. We introduce a learning rule in which behavior is conditional on whether a player experiences an error of the first or second type. This rule, called interactive trial and error learning, implements Nash equilibrium behavior in any game with generic payoffs and at least one pure Nash equilibrium.

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Bibliographic Info

Article provided by Elsevier in its journal Games and Economic Behavior.

Volume (Year): 65 (2009)
Issue (Month): 2 (March)
Pages: 626-643

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Handle: RePEc:eee:gamebe:v:65:y:2009:i:2:p:626-643

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Web page: http://www.elsevier.com/locate/inca/622836

Related research

Keywords: Learning Adaptive dynamics Nash equilibrium Bounded rationality;

References

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  1. Foster, Dean P. & Young, H. Peyton, 2003. "Learning, hypothesis testing, and Nash equilibrium," Games and Economic Behavior, Elsevier, vol. 45(1), pages 73-96, October.
  2. Smith, Kip & Dickhaut, John, 2005. "Economics and emotion: Institutions matter," Games and Economic Behavior, Elsevier, vol. 52(2), pages 316-335, August.
  3. Sergiu Hart & Andreu Mas-Colell, 1997. "A Simple Adaptive Procedure Leading to Correlated Equilibrium," Game Theory and Information 9703006, EconWPA, revised 24 Mar 1997.
  4. Kirchsteiger, G. & Rigotti, L. & Rustichini, A., 2000. "Your Morals are Your Moods," Discussion Paper 2000-122, Tilburg University, Center for Economic Research.
  5. Hart, Sergiu & Mas-Colell, Andreu, 2001. "A General Class of Adaptive Strategies," Journal of Economic Theory, Elsevier, vol. 98(1), pages 26-54, May.
  6. Karandikar, Rajeeva & Mookherjee, Dilip & Ray, Debraj & Vega-Redondo, Fernando, 1998. "Evolving Aspirations and Cooperation," Journal of Economic Theory, Elsevier, vol. 80(2), pages 292-331, June.
  7. Hart, Sergiu & Mas-Colell, Andreu, 2006. "Stochastic uncoupled dynamics and Nash equilibrium," Games and Economic Behavior, Elsevier, vol. 57(2), pages 286-303, November.
  8. Fabrizio Germano & Gábor Lugosi, 2004. "Global Nash convergence of Foster and Young's regret testing," Economics Working Papers 788, Department of Economics and Business, Universitat Pompeu Fabra.
  9. Foster, Dean P. & Vohra, Rakesh, 1999. "Regret in the On-Line Decision Problem," Games and Economic Behavior, Elsevier, vol. 29(1-2), pages 7-35, October.
  10. Young, H Peyton, 1993. "The Evolution of Conventions," Econometrica, Econometric Society, vol. 61(1), pages 57-84, January.
  11. Jehiel, Philippe, 1998. "Learning to Play Limited Forecast Equilibria," Games and Economic Behavior, Elsevier, vol. 22(2), pages 274-298, February.
  12. Sergiu Hart & Andreu Mas-Colell, 2003. "Uncoupled Dynamics Do Not Lead to Nash Equilibrium," American Economic Review, American Economic Association, vol. 93(5), pages 1830-1836, December.
  13. Mónica C. Capra, 2004. "Mood-Driven Behavior in Strategic Interactions," American Economic Review, American Economic Association, vol. 94(2), pages 367-372, May.
  14. Foster, Dean P. & Young, H. Peyton, 2006. "Regret testing: learning to play Nash equilibrium without knowing you have an opponent," Theoretical Economics, Econometric Society, vol. 1(3), pages 341-367, September.
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Citations

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Cited by:
  1. Marden, Jason R. & Shamma, Jeff S., 2012. "Revisiting log-linear learning: Asynchrony, completeness and payoff-based implementation," Games and Economic Behavior, Elsevier, vol. 75(2), pages 788-808.
  2. Vostroknutov, Alexander, 2012. "Non-probabilistic decision making with memory constraints," Economics Letters, Elsevier, vol. 117(1), pages 303-305.
  3. H Peyton Young & Jason R. Marden and Lucy Y. Pao, 2011. "Achieving Pareto Optimality Through Distributed Learning," Economics Series Working Papers 557, University of Oxford, Department of Economics.
  4. Hélène Le Cadre & Jean-Sébastien Bedo, 2012. "Distributed Learning in Hierarchical Networks," Post-Print hal-00740905, HAL.
  5. Hélène Le Cadre & Jean-Sébastien Bedo, 2013. "Dealing with Uncertainty in the Smart Grid: A Learning Game Approach," Working Papers hal-00740893, HAL.
  6. Babichenko, Yakov, 2012. "Completely uncoupled dynamics and Nash equilibria," Games and Economic Behavior, Elsevier, vol. 76(1), pages 1-14.
  7. Heinrich H. Nax & Bary S. R. Pradelski & H. Peyton Young, 2013. "The Evolution of Core Stability in Decentralized Matching Markets," Working Papers 2013.50, Fondazione Eni Enrico Mattei.
  8. Xu, Zibo, 2013. "Convergence of best response dynamics in extensive-form games," Working Paper Series in Economics and Finance 745, Stockholm School of Economics, revised 28 Jun 2013.
  9. Pradelski, Bary S.R. & Young, H. Peyton, 2012. "Learning efficient Nash equilibria in distributed systems," Games and Economic Behavior, Elsevier, vol. 75(2), pages 882-897.

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