Construct · 1 fields · 1 citations

learning direction theory: a standalone construct

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Experimental economics

the idea that players adjust their choices in the direction that would have done better last round, rather than computing optimal responses.

In experimental economics, learning direction theory refers to the idea that players adjust their choices in the direction that would have done better last round, rather than computing optimal responses. This meaning comes from Selten (1986) in Journal of Economic Behavior & Organization.[1]

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Nearby constructs

learning6 fields · 14 citationsjingle · one name, six constructs round3 fields · 5 citationsjingle · one word, three constructs

References

Selten, R., & Stoecker, R. (1986). End behavior in sequences of finite Prisoner's Dilemma supergames A learning theory approach. Journal of Economic Behavior & Organization, 7(1), 47-70. https://doi.org/10.1016/0167-2681(86)90021-1

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