Individual evolutionary learning in repeated beauty contest games

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F24%3A10253946" target="_blank" >RIV/61989100:27510/24:10253946 - isvavai.cz</a>

Výsledek na webu

<a href="https://www.sciencedirect.com/science/article/pii/S0167268123004493?via%3Dihub" target="_blank" >https://www.sciencedirect.com/science/article/pii/S0167268123004493?via%3Dihub</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1016/j.jebo.2023.12.010" target="_blank" >10.1016/j.jebo.2023.12.010</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Individual evolutionary learning in repeated beauty contest games

Popis výsledku v původním jazyce

The Individual Evolutionary Learning (IEL) algorithm was proposed as a portable learning model for games with large strategy spaces. In principle, IEL benchmark simulations could substitute or supplement expensive experiments with human subjects. We evaluate the ability of the IEL model to replicate experimental findings observed in repeated Keynesian Beauty Contest (KBC) games, which have a large strategy space. The IEL specification with standard parameter values is able to capture major dynamical features and differences between treatments in both one-dimensional (Nagel, 1995; Duffy and Nagel, 1997) and two-dimensional (Anufriev et al., 2022b) versions of KBC games. We compare IEL with some other simple learning models and find that it performs relatively better across multiple treatments. We also use IEL to predict behavior in repeated KBC games that have not yet been conducted experimentally. (C) 2023 The Author(s)

Název v anglickém jazyce

Individual evolutionary learning in repeated beauty contest games

Popis výsledku anglicky

The Individual Evolutionary Learning (IEL) algorithm was proposed as a portable learning model for games with large strategy spaces. In principle, IEL benchmark simulations could substitute or supplement expensive experiments with human subjects. We evaluate the ability of the IEL model to replicate experimental findings observed in repeated Keynesian Beauty Contest (KBC) games, which have a large strategy space. The IEL specification with standard parameter values is able to capture major dynamical features and differences between treatments in both one-dimensional (Nagel, 1995; Duffy and Nagel, 1997) and two-dimensional (Anufriev et al., 2022b) versions of KBC games. We compare IEL with some other simple learning models and find that it performs relatively better across multiple treatments. We also use IEL to predict behavior in repeated KBC games that have not yet been conducted experimentally. (C) 2023 The Author(s)

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50200 - Economics and Business

Projekt

<a href="/cs/project/GA22-28882S" target="_blank" >GA22-28882S: Interakce mezi finančními trhy a reálným sektorem: Modelování, experimenty a politika</a><br>

Návaznosti

P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Rok uplatnění

2024

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Journal of Economic Behavior and Organization

ISSN

0167-2681

e-ISSN

1879-1751

Svazek periodika

218

Číslo periodika v rámci svazku

February

Stát vydavatele periodika

NL - Nizozemsko

Počet stran výsledku

18

Strana od-do

550-567

Kód UT WoS článku

001154029900001

EID výsledku v databázi Scopus

2-s2.0-85182413446