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Learning strategies

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  • Hanaki, Nobuyuki
  • Sethi, Rajiv
  • Erev, Ido
  • Peterhansl, Alexander

Abstract

Adaptive learning models that have been tested against experimental data typically share two features: (i) initial attractions (or beliefs) are given exogenously, and (ii) learning is based on the performance of stage-game actions rather than repeated game strategies. We develop a model of learning which endogenizes initial attractions and allows for the learning of repeated game strategies. Learning occurs in two phases. In an initial long-run `pre-experimental' phase, we allow players to explore a complete set of repeated game strategies that satisfy a complexity constraint. The limiting attractions from the first phase are then used as initial attractions in the second, short-run phase, which can be tested against experimental data. We find that, relative to existing adaptive models, we are better able to account for the behavior of subjects in environments where fairness and reciprocity appear to play a significant role.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Economic Behavior & Organization.

Volume (Year): 56 (2005)
Issue (Month): 4 (April)
Pages: 523-542

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Handle: RePEc:eee:jeborg:v:56:y:2005:i:4:p:523-542

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  1. Stahl, Dale O., 2000. "Rule Learning in Symmetric Normal-Form Games: Theory and Evidence," Games and Economic Behavior, Elsevier, vol. 32(1), pages 105-138, July.
  2. V. Crawford, 2010. "Adaptive Dynamics in Coordination Games," Levine's Working Paper Archive 404, David K. Levine.
  3. Huck, Steffen & Oechssler, Jorg, 1999. "The Indirect Evolutionary Approach to Explaining Fair Allocations," Games and Economic Behavior, Elsevier, vol. 28(1), pages 13-24, July.
  4. Arifovic, Jasmina & McKelvey, Richard D. & Pevnitskaya, Svetlana, 2006. "An initial implementation of the Turing tournament to learning in repeated two-person games," Games and Economic Behavior, Elsevier, vol. 57(1), pages 93-122, October.
  5. Colin Camerer & Teck-Hua Ho, 1999. "Experience-weighted Attraction Learning in Normal Form Games," Econometrica, Econometric Society, vol. 67(4), pages 827-874, July.
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  10. Rajiv Sethi & E. Somanathan, 1999. "Preference Evolution and Reciprocity," Game Theory and Information 9903001, EconWPA, revised 12 Mar 1999.
  11. David K Levine, 1997. "Modeling Altruism and Spitefulness in Experiments," Levine's Working Paper Archive 2047, David K. Levine.
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  15. Miller, John H., 1996. "The coevolution of automata in the repeated Prisoner's Dilemma," Journal of Economic Behavior & Organization, Elsevier, vol. 29(1), pages 87-112, January.
  16. Fehr, Ernst & Schmidt, Klaus M., . "A theory of fairness, competition, and cooperation," Chapters in Economics, University of Munich, Department of Economics.
  17. Gary Charness & Matthew Rabin, 2002. "Understanding Social Preferences With Simple Tests," The Quarterly Journal of Economics, MIT Press, vol. 117(3), pages 817-869, August.
  18. Axel Ockenfels & Gary E. Bolton, 2000. "ERC: A Theory of Equity, Reciprocity, and Competition," American Economic Review, American Economic Association, vol. 90(1), pages 166-193, March.
  19. Dale O. Stahl, 1999. "Evidence based rules and learning in symmetric normal-form games," International Journal of Game Theory, Springer, vol. 28(1), pages 111-130.
  20. Herbert Gintis, 2000. "Strong Reciprocity and Human Sociality," UMASS Amherst Economics Working Papers 2000-02, University of Massachusetts Amherst, Department of Economics.
  21. Drew Fudenberg & David K. Levine, 1998. "The Theory of Learning in Games," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262061945, December.
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Citations

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Cited by:
  1. Bednar, Jenna & Chen, Yan & Liu, Tracy Xiao & Page, Scott, 2012. "Behavioral spillovers and cognitive load in multiple games: An experimental study," Games and Economic Behavior, Elsevier, vol. 74(1), pages 12-31.
  2. Christos A. Ioannou & Julian Romero, 2012. "Strategic Learning With Finite Automata Via The EWA-Lite Model," Purdue University Economics Working Papers 1269, Purdue University, Department of Economics.
  3. Nobuyuki Hanaki, 2005. "Individual and Social Learning," Computational Economics, Society for Computational Economics, vol. 26(3), pages 31-50, November.
  4. Arifovic, Jasmina & Ledyard, John, 2011. "A behavioral model for mechanism design: Individual evolutionary learning," Journal of Economic Behavior & Organization, Elsevier, vol. 78(3), pages 374-395, May.
  5. Arifovic, Jasmina & McKelvey, Richard D. & Pevnitskaya, Svetlana, 2006. "An initial implementation of the Turing tournament to learning in repeated two-person games," Games and Economic Behavior, Elsevier, vol. 57(1), pages 93-122, October.
  6. Josephson, Jens, 2001. "A Numerical Analysis of the Evolutionary Stability of Learning Rules," Working Paper Series in Economics and Finance 474, Stockholm School of Economics.
  7. Golosnoy, Vasyl & Okhrin, Yarema, 2008. "General uncertainty in portfolio selection: A case-based decision approach," Journal of Economic Behavior & Organization, Elsevier, vol. 67(3-4), pages 718-734, September.

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