Journal article
Learning in a black box
- Abstract:
-
We study behavior in repeated interactions when agents have no information about the structure of the underlying game and they cannot observe other agents' actions or payoffs. Theory shows that even when players have no such information, there are simple payoff-based learning rules that lead to Nash equilibrium in many types of games. A key feature of these rules is that subjects search differently depending on whether their payoffs increase, stay constant or decrease. This paper analyzes lea...
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- Publication status:
- Published
- Peer review status:
- Peer reviewed
Actions
Authors
Bibliographic Details
- Publisher:
- Elsevier Publisher's website
- Journal:
- Journal of Economic Behavior & Organization Journal website
- Volume:
- 127
- Pages:
- 1-15
- Publication date:
- 2016-04-01
- Acceptance date:
- 2016-04-08
- DOI:
- ISSN:
-
0167-2681
- Source identifiers:
-
584894
Item Description
- Keywords:
- Pubs id:
-
pubs:584894
- UUID:
-
uuid:120f9299-0d9d-4148-a163-ab6d151b507b
- Local pid:
- pubs:584894
- Deposit date:
- 2017-05-16
Terms of use
- Copyright holder:
- West et al
- Copyright date:
- 2016
- Notes:
- © 2016 The Authors. Published by Elsevier B.V. This is an open access article under the CCBY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/).
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