Review paper
Coordination, “Magic,” and Reinforcement Learning in a Market Entry Game
Abstract
Previous experimental studies have documented quick convergence to equilibrium play in market entry games with a large number of agents. The present study examines the effect of the available information in a 12-player game in an attempt to account for these findings. In line with the prediction of a simple reinforcement learning model (Roth and Erev, 1995,Games Econ. Behav.8, 164–212), quick convergence to equilibrium is observed even given...
Paper Details
Title
Coordination, “Magic,” and Reinforcement Learning in a Market Entry Game
Published Date
May 1, 1998
Journal
Volume
23
Issue
2
Pages
146 - 175
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