Individual Differences in Ewa Learning with Partial Payoff Information  

Oleh:

Ho, Teck H. ; Wang, Xin ; Camerer, Colin F.

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Economic Journal (EBSCO) vol. 118 no. 525 (Jan. 2008), page 37-59.
Topik: Ewa Learning; Partial Payoff Information; Experience-Weighted Attraction
Fulltext: 37.pdf (322.75KB)

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: EE28.27 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

We extend experience-weighted attraction (EWA) learning to games in which only the set of possible foregone payoffs from unchosen strategies are known, and estimate parameters separately for each player to study heterogeneity. We assume players estimate unknown foregone payoffs from a strategy, by substituting the last payoff actually received from that strategy, by clairvoyantly guessing the actual outcomes. All three assumptions improve predictive accucary of EWA. Individual parameter estimates suggest that players cluster into two separate subgroups (which differ from traditional reinforcement and belief learning).

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