Article ID Journal Published Year Pages File Type
5057883 Economics Letters 2017 5 Pages PDF
Abstract

•For repeated Traveler's Dilemma and Minimum Effort Coordination games the short-run dynamics of expected actions can be predicted by unconditional regret matching procedure.•The unconditional regret matching with bounded memory can speed up the convergence to the long-run equilibrium.•The example of Pareto improving Coarse Correlated Equilibrium for Traveler's Dilemma game is provided.

For Traveler's Dilemma and Minimal Effort Coordination games, the unconditional regret matching (URM) procedure predicts outcomes close to the experimental ones. This supports a claim that the URM procedure can be well suited to predict the behavior of experimental subjects in repeated games.

Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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