Analogy-based expectation equilibrium
Abstract
In complex situations, agents use simplified representations to learn how their environment may react. I assume that agents bundle nodes at which other agents must move into analogy classes, and agents only try to learn the average behavior in every class. Specifically, I propose a new solution concept for multi-stage games with perfect information: at every node players choose best-responses to their analogy-based expectations, and expectations...
Paper Details
Title
Analogy-based expectation equilibrium
Published Date
Aug 1, 2005
Journal
Volume
123
Issue
2
Pages
81 - 104
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