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Journal article

Learning by trial and error.

Abstract:

A person learns by trial and error if he occasionally tries out new strategies, rejecting choices that are erroneous in the sense that they do not lead to higher payoffs. In a game, however, strategies can become erroneous due to a change of behavior by someone else. We introduce a learning rule in which behavior is conditional on whether a player experiences an error of the first or second type. This rule, called interactive trial and error learning, implements Nash equilibrium behavior in a...

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Publisher copy:
10.1016/j.geb.2008.02.011

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Journal:
Games and Economic Behavior
Volume:
65
Issue:
2
Publication date:
2009-01-01
DOI:
URN:
uuid:c0c13b8f-3fe8-4439-825c-72798b7a53c7
Local pid:
oai:economics.ouls.ox.ac.uk:14656
Language:
English

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