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Learning by trial and error

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Author Info
Young, H. Peyton

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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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File URL: http://www.sciencedirect.com/science/article/B6WFW-4S3WX0H-1/2/f05c0e1f73abb5df86d28e83d7733751
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Publisher 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

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Related research
Keywords: Learning Adaptive dynamics Nash equilibrium Bounded rationality;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Mónica C. Capra, 2004. "Mood-Driven Behavior in Strategic Interactions," American Economic Review, American Economic Association, vol. 94(2), pages 367-372, May. [Downloadable!]
  2. Hart, Sergiu & Mas-Colell, Andreu, 2006. "Stochastic uncoupled dynamics and Nash equilibrium," Games and Economic Behavior, Elsevier, vol. 57(2), pages 286-303, November. [Downloadable!] (restricted)
    Other versions:
  3. Yakov Babichenko, 2007. "Uncoupled Automata and Pure Nash Equilibria," Discussion Paper Series dp459, Center for Rationality and Interactive Decision Theory, Hebrew University, Jerusalem. [Downloadable!]
  4. 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. [Downloadable!] (restricted)
    Other versions:
  5. Germano, Fabrizio & Lugosi, Gabor, 2007. "Global Nash convergence of Foster and Young's regret testing," Games and Economic Behavior, Elsevier, vol. 60(1), pages 135-154, July. [Downloadable!] (restricted)
    Other versions:
  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. [Downloadable!] (restricted)
  7. Foster, Dean P. & Young, H. Peyton, 2006. "Regret testing: learning to play Nash equilibrium without knowing you have an opponent," Theoretical Economics, Society for Economic Theory, vol. 1(3), pages 341-367, September. [Downloadable!]
  8. Hart, Sergiu & Mas-Colell, Andreu, 2001. "A General Class of Adaptive Strategies," Journal of Economic Theory, Elsevier, vol. 98(1), pages 26-54, May. [Downloadable!] (restricted)
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  9. Yakov Babichenko, 2007. "Uncoupled Automata and Pure Nash Equilibria," Levine's Bibliography 843644000000000369, UCLA Department of Economics. [Downloadable!]
  10. Kirchsteiger, G. & Rigotti, L. & Rustichini, A., 2000. "Your morals are your moods," Discussion Paper 122, Tilburg University, Center for Economic Research. [Downloadable!]
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  11. Jehiel, Philippe, 1998. "Learning to Play Limited Forecast Equilibria," Games and Economic Behavior, Elsevier, vol. 22(2), pages 274-298, February. [Downloadable!] (restricted)
  12. Smith, Kip & Dickhaut, John, 2005. "Economics and emotion: Institutions matter," Games and Economic Behavior, Elsevier, vol. 52(2), pages 316-335, August. [Downloadable!] (restricted)
  13. Young, H Peyton, 1993. "The Evolution of Conventions," Econometrica, Econometric Society, vol. 61(1), pages 57-84, January. [Downloadable!] (restricted)
  14. 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. [Downloadable!]
  15. Sergiu Hart & Andreu Mas-Colell, 2000. "A Simple Adaptive Procedure Leading to Correlated Equilibrium," Econometrica, Econometric Society, vol. 68(5), pages 1127-1150, September.
    Other versions:
  16. 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. [Downloadable!] (restricted)
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