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| Author: | Feltovich, N. |
| Title: | Reinforcement-based vs. belief-based learning models in experimental asymmetric- information games |
| Journal: | Econometrica
2000 : MAY, VOL. 68:3, p. 605-641 |
| Index terms: | Models Learning Equilibrium analysis Quantitative techniques Asymmetric information |
| Language: | eng |
| Abstract: | This paper examines the abilities of learning models to describe subject behavior in experiments. The experimental data are compared with the predictions of Nash equilibrium and two types of learning model: a reinforcement-based model and belief-based models. It seems that both types of learning model outperform Nash equilibrium. The abilities of these models are further tested with respect to the results of other published experiments. Both models perform better than equilibrium in most cases. |
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