Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5057883 | Economics Letters | 2017 | 5 Pages |
Abstract
â¢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.â¢The unconditional regret matching with bounded memory can speed up the convergence to the long-run equilibrium.â¢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.
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Authors
Vladislav Damjanovic,