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Adaptive Heuristics

  • Sergiu Hart

We exhibit a large class of simple rules of behavior, which we call adaptive heuristics, and show that they generate rational behavior in the long run. These adaptive heuristics are based on natural regret measures, and may be viewed as a bridge between rational and behavioral viewpoints. The results presented here, taken together, establish a solid connection between the dynamic approach of adaptive heuristics and the static approach of correlated equilibria.

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Paper provided by UCLA Department of Economics in its series Levine's Bibliography with number 122247000000000471.

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Date of creation: 17 Sep 2004
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Handle: RePEc:cla:levrem:122247000000000471
Contact details of provider: Web page: http://www.dklevine.com/

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  1. Colin Camerer & Teck-Hua Ho, 1999. "Experience-weighted Attraction Learning in Normal Form Games," Econometrica, Econometric Society, vol. 67(4), pages 827-874, July.
  2. R. Aumann, 2010. "Correlated Equilibrium as an expression of Bayesian Rationality," Levine's Bibliography 513, UCLA Department of Economics.
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