Adaptive Heuristics

Sergiu Hart

Econometrica, 2005, vol. 73, issue 5, 1401-1430

Abstract: We exhibit a large class of simple rules of behavior, which we call adaptive heuristics, and show that they generate rational behavior in the long run. These adaptive heuristics are based on natural regret measures, and may be viewed as a bridge between rational and behavioral viewpoints. Taken together, the results presented here establish a solid connection between the dynamic approach of adaptive heuristics and the static approach of correlated equilibria. Copyright The Econometric Society 2005.

Date: 2005
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Related works:
Chapter: ADAPTIVE HEURISTICS (2013)
Working Paper: Adaptive Heuristics (2004)
Working Paper: Adaptive Heuristics (2004)
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