Learning from experience in nonlinear environments: Evidence from a competition scenario
Abstract
We test people's ability to learn to estimate a criterion (probability of success in a competition scenario) that requires aggregating information in a nonlinear manner. The learning environments faced by experimental participants are kind in that they are characterized by immediate, accurate feedback involving either naturalistic outcomes (information on winning and/or ranking) or the normatively correct probabilities. We find no evidence of...
Paper Details
Title
Learning from experience in nonlinear environments: Evidence from a competition scenario
Published Date
Sep 1, 2015
Journal
Volume
81
Pages
48 - 73
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