Absolutely expedient imitative behavior

Antonio Morales ()

International Journal of Game Theory, 2003, vol. 31, issue 4, 475-492

Abstract: This paper analyzes a model of learning by imitation, where besides the decision maker, there is a population of individuals facing the same decision problem. We analyze a property called Absolute Expediency, which requires that the decision maker’s expected payoff increases from one round to the next for every decision problem and every profile of realized actions taken by the population. We give a simple characterization of the expediency property and show that its basic feature is proportional imitation: the change in the probability attached to the played action is proportional to the difference between the received and the sampled payoff (the sampled payoff plays the role of an aspiration level). Copyright Springer-Verlag Heidelberg 2003

Keywords: Bandit problem; imitation (search for similar items in EconPapers)
Date: 2003
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://hdl.handle.net/10.1007/s001820300131 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:jogath:v:31:y:2003:i:4:p:475-492

Ordering information: This journal article can be ordered from
http://www.springer. ... eory/journal/182/PS2

DOI: 10.1007/s001820300131

Access Statistics for this article

International Journal of Game Theory is currently edited by Shmuel Zamir, Vijay Krishna and Bernhard von Stengel

More articles in International Journal of Game Theory from Springer, Game Theory Society
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().