Econometric Society 57th European Meeting
25th August 2002 - 28th August 2002, Venice, Italy

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REINFORCEMENT LEARNING AND THE POWER LAW OF PRACTICE: SOME ANALYTICAL RESULTS.


Category: Economic Theory
Evolution and Learning II
Monday 26th August 2002, 09:30 - 11:00, Room: 4.1
Session Chair(s): Theodore Bergstrom, University of California Santa Barbara, UNITED STATES

Presenter(s): Ianni, Antonella

Co-Author(s): none

Keyword(s): exponential convergence, power law of practice, reinforcement learning, replicator dynamics

JEL(s): C72, C92

Abstract:

Erev and Roth (1998) among others provide a comprehensive analysis of experimental evidence on learning in games, based on a stochastic model of learning that accounts for two main elements: the LAw of Effect (positive reinforcement of actions that perform well) and the Power Law of Practice (learning curves tend to be steeper initially). This paper complements this literature by providing an analytical study of the properties of such learning models.


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Paper Reference Number: 118

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57th European Meeting
25th August 2002 - 28th August 2002, Venice, Italy

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