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Strategy similarity and coordination

Sarin, Rajiv; Vahid, Farshid


In the payoff assessment model of choice (Sarin and Vahid, 1999), only the assessment of the chosen strategy is updated. We extend that model to allow the agent to also update the assessments of strategies that the agent thinks are similar to the chosen strategy. We use this model to explain observed behaviour in a recent experiment. Statistical tests cannot distinguish between the payoff distributions generated by the model and the observed payoff distributions in almost every period.

CollectionsANU Research Publications
Date published: 2004
Type: Journal article
Source: The Economic Journal
DOI: 10.1111/j.0013-0133.2004.0229a.x


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