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Strategic Learning With Finite Automata Via The EWA-Lite Model

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  • Christos A. Ioannou
  • Julian Romero

Abstract

We modify the self-tuning Experience Weighted Attraction (EWA-lite) model of Camerer, Ho, and Chong (2007) and use it as a computer testbed to study the likely performance of a set of twostate automata in four symmetric 2 x 2 games. The model suggested allows for a richer specification of strategies and solves the inference problem of going from histories to beliefs about opponents' strategies, in a manner consistent with \belief-learning". The predictions are then validated with data from experiments with human subjects. Relative to the action reinforcement benchmark model, our modified EWA-lite model can better account for subject-behavior.

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Bibliographic Info

Paper provided by Purdue University, Department of Economics in its series Purdue University Economics Working Papers with number 1269.

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Length: 26 pages
Date of creation: Apr 2012
Date of revision:
Handle: RePEc:pur:prukra:1269

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  1. Camerer, Colin F. & Ho, Teck H. & Chong, Juin-Kuan., 2000. "Sophisticated EWA Learning and Strategic Teaching in Repeated Games," Working Papers, California Institute of Technology, Division of the Humanities and Social Sciences 1087, California Institute of Technology, Division of the Humanities and Social Sciences.
  2. 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, Elsevier, vol. 57(1), pages 93-122, October.
  3. Chmura, Thorsten & Goerg, Sebastian J. & Selten, Reinhard, 2012. "Learning in experimental 2×2 games," Games and Economic Behavior, Elsevier, Elsevier, vol. 76(1), pages 44-73.
  4. Nobuyuki Hanaki & Rajiv Sethi & Ido Erev & Alexander Peterhansl, 2002. "Learning Strategies," Game Theory and Information, EconWPA 0211004, EconWPA.
  5. Boylan, Richard T. & El-Gamal, Mahmoud A., 1990. "Fictitious Play: A Statistical Study of Multiple Economic Experiments," Working Papers, California Institute of Technology, Division of the Humanities and Social Sciences 737, California Institute of Technology, Division of the Humanities and Social Sciences.
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