Huck, S. and Jehiel, P. and Rutter, T. (2007) Learning spillover and analogy-based expectations: a multi-game experiment. (ELSE Working Papers 234). ESRC Centre for Economic Learning and Social Evolution: London, UK.
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Abstract
We consider a multi-game interactive learning environment and ask ourselves whether long run behaviors in one game are a¤ected by behaviors in the other, i.e whether there are learning spillovers. Our main nding is that learning spillovers arise whenever the feedback provided to subjects about past play is not easily accessible game by game and thus subjects get a more immediate impression about aggregate distributions. In such a case, long run behaviors stabilize to an analogy-based expectation equilibrium (Jehiel 2005), thereby suggesting how one should broaden the notion of equilibrium to cope with learning spillovers.
| Type: | Working / discussion paper |
|---|---|
| Title: | Learning spillover and analogy-based expectations: a multi-game experiment |
| Open access status: | An open access version is available from UCL Discovery |
| Publisher version: | http://else.econ.ucl.ac.uk/newweb/papers.php#2007 |
| Language: | English |
| Keywords: | C72, D82 |
| UCL classification: | UCL > School of Arts and Social Sciences > Faculty of Social and Historical Sciences > Economics |
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