Learning and Decision Costs in One-Person Games

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Learning and Decision Costs in One-Person Games

Author Info

Romeo, Charles
Sopher, Barry

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Barry Sopher

Abstract

This paper reports the results of a two-part data analysis of learning in a repeated costly decision experiment. In the first part we test payoff dominance under the hypothesis of expected payoff maximization. We utilize a dynamic probability distribution over decisions for each player, characterizing what each player has learned about the payoff function by the moments from these distributions. In the second part, we test the hypothesis of expected payoff maximization for players in each treatment group. Expected payoff maximization is supported but payoff dominance is not.

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Publisher Info
Article provided by John Wiley & Sons, Ltd. in its journal Journal of Applied Econometrics.

Volume (Year): 14 (1999)
Issue (Month): 4 (July-Aug.)
Pages: 335-57
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Handle: RePEc:jae:japmet:v:14:y:1999:i:4:p:335-57

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Paper
- Barry Sopher & Charles Romeo, 2000. "Learning and Decision Costs in One-Person Games," Departmental Working Papers 199509, Rutgers University, Department of Economics.

Cited by:
(explanations, 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.)

Ed Hopkins, 1995. "Learning, Matching and Aggregation," Game Theory and Information 9512001, EconWPA. [Downloadable!]
Other versions:
- Ed Hopkins, . "Learning, Matching and Aggregation," Department of Economics 1996 : II, Edinburgh School of Economics, University of Edinburgh. [Downloadable!]
- Ed Hopkins, . "Learning, Matching and Aggregation," ESE Discussion Papers 2, Edinburgh School of Economics, University of Edinburgh.
- Ed Hopkins, . "Learning, Matching and Aggregation," ELSE working papers 033, ESRC Centre on Economics Learning and Social Evolution. [Downloadable!]
- Ed Hopkins, . "Learning, Matching and Aggregation," Discussion Papers 1996-2, Edinburgh School of Economics, University of Edinburgh.
- Hopkins, E., 1995. "Learning, Matching and Aggregation," G.R.E.Q.A.M. 95a20, Universite Aix-Marseille III.
- Hopkins, Ed, 1999. "Learning, Matching, and Aggregation," Games and Economic Behavior, Elsevier, vol. 26(1), pages 79-110, January. [Downloadable!] (restricted)

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