Selection dynamics and adaptive behavior without much information

Economic Theory

Volumn 33, Issue 1, 2007, Pages 53-65

  Van Huyck, John B ^a   Battalio, Raymond C ^a   Rankin, Frederick W ^b  

^a TEXAS A AND M UNIVERSITY   (United States)

^b Department of Environmental and Radiological Health Sciences   (United States)

Author keywords

Adaptive behavior; Equilibrium selection; Information; Reinforcement Learning; Stability

Indexed keywords

EID: 34547147465     PISSN: 09382259     EISSN: 14320479     Source Type: Journal    
DOI: 10.1007/s00199-007-0209-8     Document Type: Conference Paper

References (17)

1. Baumol W.J., Benhabib J. (1989) Chaos: significance, mechanism, and economic applications. J Econ Perspect 3, 77-105
2. Boldrin M., Woodford M. (1990) Equilibrium models displaying endogenous fluctuations and chaos: a survey. J Monet Econ 25, 189-222
3. Borgers T., Morales A.J., Sarin R. (2004) Expedient and monotone learning rules. Econometrica 72, 383-405
4. Camerer C. (2003) Behavioral Game Theory. New York, Russell Sage Foundation
5. Camerer C., Ho T. (1999) Experience-weighted attraction learning in normal form games. Econometrica 67, 827-874
6. Chen, Y., Khoroshilov, Y.: Learning under limited information. Games Econ Behavior 44, (2003)
7. Cross J.G. (1973) A stochastic learning model of economic behavior. Q J Econ 87, 239-66
8. Eckalbar J.C. (1993) Economic Dynamics. In: Varian H (ed) Economic and Financial Modeling with Mathematica. New York, Springer
9. Erev, I., Roth, A.E.: Predicting how people play games: Reinforcement learning in experimental games with unique, mixed strategy equilibria. Am Econ Rev 88, (1998)
10. Gilboa I., Schmeidler D. (1997) Act similarity in case-based decision theory. Economic Theory 9, 47-61
11. McAllister P.H. (1991) Adaptive approaches to stochastic programming. Ann Oper Res 30, 45-62
12. Milgrom P., Roberts J. (1991) Adaptive and sophisticated learning in normal form games. Games Econ Behav 3, 82-100
13. Roth A.E., Erev I. (1995) Learning in extensive-form games: experimental data and simple dynamic models in the intermediate term. Games Econ Behav 8, 164-212
14. Sarin, R., Vahid, F.: Strategic similarity and coordination. Econ J 114, (2004)
15. Smith, V.L.: Experimental economics: behavioral lessons for microeconomic theory and policy. Nancy L. Schwartz memorial lecture, Kellogg Graduate School of Management, Northwestern University (1990)
16. Van Huyck J.B., Battalio R.C., Beil R.O. (1990) Tacit coordination games, strategic uncertainty, and coordination failure. Am Econ Rev 80, 234-48
17. Van Huyck J.B., Cook J.P., Battalio R.C. (1994) Selection dynamics and adaptive behavior. J Polit Econ 102, 975-1005