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Relative versus Absolute Speed of Adjustment in Strategic Environments: Responder Behavior in Ultimatum Games

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Author Info

  • David Cooper
  • Nick Feltovich
  • Alvin Roth
  • Rami Zwick

Abstract

Learning models predict that the relative speed at which players in a game adjust their behavior has a critical influence on long term behavior. In an ultimatum game, the prediction is that proposers learn not to make small offers faster than responders learn not to reject them. We experimentally test whether relative speed of learning has the predicted effect, by manipulating the amount of experience accumulated by proposers and responders. The experiment allows the predicted learning by responders to be observed, for the first time. Copyright Kluwer Academic Publishers 2003

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Bibliographic Info

Article provided by Springer in its journal Experimental Economics.

Volume (Year): 6 (2003)
Issue (Month): 2 (October)
Pages: 181-207

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Handle: RePEc:kap:expeco:v:6:y:2003:i:2:p:181-207

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Web page: http://www.springerlink.com/link.asp?id=102888

Related research

Keywords: Game Theory; learning; bargaining;

References

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  1. Nick Feltovich, 2000. "Reinforcement-Based vs. Belief-Based Learning Models in Experimental Asymmetric-Information," Econometrica, Econometric Society, vol. 68(3), pages 605-642, May.
  2. Robert Slonim & Alvin E. Roth, 1998. "Learning in High Stakes Ultimatum Games: An Experiment in the Slovak Republic," Econometrica, Econometric Society, vol. 66(3), pages 569-596, May.
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  9. Nick Feltovich & John Duffy, 1999. "Does observation of others affect learning in strategic environments? An experimental study," International Journal of Game Theory, Springer, vol. 28(1), pages 131-152.
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