Learning aspiration in repeated games

Journal of Economic Theory

Volumn 124, Issue 2, 2005, Pages 171-201

  Cho, In Koo ^a   Matsui, Akihiko ^b  

^a UNIVERSITY OF ILLINOIS AT URBANA CHAMPAIGN   (United States)

^b UNIVERSITY OF TOKYO   (Japan)

Author keywords

Aspiration; Bounded rationality; Cooperation; Mean dynamics; Recursive learning; Repeated games; Satisficing behavior; Stochastic approximation

Indexed keywords

EID: 27644515989     PISSN: 00220531     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jet.2004.12.001     Document Type: Article

References (25)

1. M. Benäim J. Weibull Deterministic approximation of stochastic evolution in games Econometrica 71 3 2003 873-903
2. J. Bendor D. Mookherjee D. Ray Reinforcement learning in repeated interaction games Adv. Theoret. Econ. 1 1 2003
3. I.-K. Cho, A. Matsui, Learning aspiration in repeated games, University of Illinois and University of Tokyo, 2003.
4. I.-K. Cho, A. Matsui, Learning, aspiration and efficiency, University of Illinois and University of Tokyo, 2004.
5. G.W. Evans S. Honkapohja Learning and Expectations in Macroeconomics 2001 Princeton University Press Princeton, NJ
6. I. Gilboa D. Schmeidler Case-based decision theory Quart. J. Econ. 15 1995 1-26
7. I. Gilboa, D. Schmeidler, Reaction to price changes and aspiration level adjustments, Tel Aviv University, 2000.
8. I. Gilboa D. Schmeidler A Theory of Case-Based Decisions 2001 Cambridge University Press Cambridge
9. M. Kandori G. Mailath R. Rob Learning, mutation and long run equilibria in games Econometrica 61 1993 27-56
10. R. Karandikar D. Mookherjee D. Ray F. Vega-Redondo Evolving aspirations and cooperation J. Econ. Theory 80 2 1998 292-331
11. H.J. Kushner D.S. Clark Stochastic Approximation Methods for Constrained and Unconstrained Systems 1978 Springer Berlin
12. H.J. Kushner G.G. Yin Stochastic Approximation Algorithms and Applications 1997 Springer Berlin
13. L. Ljung, Analysis of recursive stochastic algorithms, IEEE Trans. Automat. Control (1977) 551-575.
14. A. Marcet T.J. Sargent Convergence of least squares learning mechanisms in self referential linear stochastic models J. Econ. Theory 48 1989 337-368
15. A. Matsui Expected utility and case-based reasoning Math. Social Sci. 39 2000 1-12
16. S. Napel Aspiration adaptation in the ultimatum minigame Games Econ. Behav. 43 1 2003 86-106
17. J. Oechssler Cooperation as a result of learning with aspiration levels J. Econ. Behav. Organ. 49 2002 405-409
18. M. Posch, Win Stay, Lose Shift or Imitation - Only the Choice of the Peers Counts, University of Vienna, 2001.
19. M. Posch, A. Pichler, K. Sigmund, The efficiency of adapting aspiration levels, Proceedings of Royal Society, vol. 266, London, 1999, pp. 1427-1435.
20. W. Sandholm J. Hofbauer On the global convergence of stochastic fictitious plays Econometrica 70 2002 2265-2294
21. R. Sarin F. Vahid Payoff assessment without probabilities: A simple dynamic model of choice Games Econ. Behav. 28 2 1999 294-309
22. H. Simon Models of man, continuity in administrative science, Ancestral Books in the Management of Organizations 1987 Garland Publisher New York
23. E.L. Thorndike Animal Intelligence: Experimental Studies 1911 MacMillan New York
24. S.G. Winter Satisficing, selection and the innovating remnant Quart. J. Econ. 85 2 1971 237-261
25. M.D. Woodford Learning to believe in sunspots Econometrica 58 1990 277-307