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Feedback Spillover and Analogy-based Expectations. A Multi-Game Experiment

Listed author(s):
  • Steffen Huck

    (UCL - University College of London [London], Else - Else)

  • Philippe Jehiel

    (UCL - University College of London [London], PSE - Paris-Jourdan Sciences Economiques - ENS Paris - École normale supérieure - Paris - INRA - Institut National de la Recherche Agronomique - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique, PSE - Paris School of Economics)

  • Tom Rutter

    (UCL - University College of London [London], Else - Else)

We consider a multi-game interactive learning environment in which subjects sometimes only have access to the aggregate distribution of play of the opponents over the various games and sometimes are told the joint distribution of actions and games in a more or less accessible way. Our main findings are: 1) In the presence of feedback spillover, long run behaviors stabilize to an analogy-based expectation equilibrium (Jehiel, 2005). 2) Faced with the same objective feedback, the long run behaviors are sometimes better described by Nash equilibrium and sometimes they are better described by the analogy-based expectation equilibrium depending on the accessibility of the feedback.

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Paper provided by HAL in its series Post-Print with number halshs-00754551.

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Date of creation: Mar 2011
Publication status: Published in Games and Economic Behavior, Elsevier, 2011, 71 (2), pp.351-365. 〈10.1016/j.geb.2010.06.007〉
Handle: RePEc:hal:journl:halshs-00754551
DOI: 10.1016/j.geb.2010.06.007
Note: View the original document on HAL open archive server: https://hal-pjse.archives-ouvertes.fr/halshs-00754551
Contact details of provider: Web page: https://hal.archives-ouvertes.fr/

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  1. Jehiel, Philippe & Koessler, Frédéric, 2008. "Revisiting games of incomplete information with analogy-based expectations," Games and Economic Behavior, Elsevier, vol. 62(2), pages 533-557, March.
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  21. Huck, Steffen & Normann, Hans-Theo & Oechssler, Jorg, 2004. "Two are few and four are many: number effects in experimental oligopolies," Journal of Economic Behavior & Organization, Elsevier, vol. 53(4), pages 435-446, April.
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