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Unobserved heterogeneity and equilibrium: an experimental study of Bayesian and adaptive learning in normal form games. (2004)
Journal Article

We describe an experiment based on a simple two-person game designed so that different learning models make different predictions. Econometric analysis of the experimental data reveals clear heterogeneity in the subjects’ learning behavior. But the s... Read More about Unobserved heterogeneity and equilibrium: an experimental study of Bayesian and adaptive learning in normal form games..