Adaptive Learning in Imperfect Monitoring Games
This paper deals with the problem of specifying a general learning model, the rationality of which is not situation dependent. I propose a very general model of adaptive learning suitable to study learning problems in games with imperfect monitoring, such as extensive form games. In this context I relate adaptive learning with a general notion of equilibrium; in particular I provide a dynamic characterization of Conjectural equilibria: a "stable" strategy profile is consistent with adaptive learning if and only if it is a Conjectural equilibrium. (Copyright: Elsevier)
Volume (Year): 2 (1999)
Issue (Month): 2 (April)
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