Feedback spillover and analogy-based expectations: A multi-game experiment
AbstractWe consider a multi-game interactive learning environment in which subjects sometimes only have access to the aggregate distribution of play of the opponents over the various games and sometimes are told the joint distribution of actions and games in a more or less accessible way. Our main findings are: 1) In the presence of feedback spillover, long run behaviors stabilize to an analogy-based expectation equilibrium (Jehiel, 2005). 2) Faced with the same objective feedback, the long run behaviors are sometimes better described by Nash equilibrium and sometimes they are better described by the analogy-based expectation equilibrium depending on the accessibility of the feedback.
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Bibliographic InfoArticle provided by Elsevier in its journal Games and Economic Behavior.
Volume (Year): 71 (2011)
Issue (Month): 2 (March)
Contact details of provider:
Web page: http://www.elsevier.com/locate/inca/622836
Analogy-based expectation Information processing Experiments Accessibility Interactive learning Feedback spillover;
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