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Little Information, Efficiency, and Learning - An Experimental Study

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  • Atanasios Mitropoulos

Abstract

Earlier experiments have shown that under little information subjects are hardly able to coordinate even though there are no conflicting interests and subjects are organised in fixed pairs. This is so, even though a simple adjustment process would lead the subjects into the efficient, fair and individually payoff maximising outcome. We draw on this finding and design an experiment in which subjects re-peatedly play 4 simple games within 4 sets of 40 rounds under little information. This way we are able to investigate (i) the coordination abilities of the subjects depending on the underlying game, (ii) the resulting efficiency loss, and (iii) the adjustment of the learning rule.

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File URL: http://128.118.178.162/eps/game/papers/0110/0110002.pdf
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Bibliographic Info

Paper provided by EconWPA in its series Game Theory and Information with number 0110002.

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Length: 49 pages
Date of creation: 18 Oct 2001
Date of revision:
Handle: RePEc:wpa:wuwpga:0110002

Note: Type of Document - Acrobat PDF; prepared on IBM PC - MS-Word; to print on HP A4-Size; pages: 49; figures: included
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Web page: http://128.118.178.162

Related research

Keywords: mutual fate control; matching pennies; fate-control behaviour- control; learning; coordination; little information;

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Cited by:
  1. Atanasios Mitropoulos, 2001. "On the Measurement of the Predictive Success of Learning Theories in Repeated Games," Experimental 0110001, EconWPA.
  2. Atanasios Mitropoulos, 2002. "An Experiment on the Value of Structural Information in a 2x2 Repeated Game," Game Theory and Information 0202002, EconWPA.

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