Adaptive Learning, Adaptive Utility, and Rational Behavior in a Repeated Prisoner's Dilemma

Michael J Moore and Marian Chapman Moore

Journal of Risk and Uncertainty, 1989, vol. 2, issue 4, 367-83

Abstract: Two dimensions of learning are explored in a repeated prisoners dilemma experiment. Subjects update their perceptions of the true model of their opponents' behavior. Subjects also update their beliefs about the opponents' likely future behavior, conditional on the true model. Both forms of learning are consistent with models of adaptive rational behavior that have appeared in the literature. Copyright 1989 by Kluwer Academic Publishers

Date: 1989
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