Abstract
Two dimensions of learning are explored in a repeated prisoner's dilemma experiment. Subject update their perceptions of the true model of their opponent's behavior. Subjects also update their beliefs Kraft Funds at the Fuqua School of Business, helpful comments by Robert Axelrod, Michael Cohen, Fred Feinberg, J. Keith Murnighan, Kip Viscusi, Bob Winkler, and two anonymous referees, and the programming assistance of Oris Stuart and Michael Guiry.
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We gratefully acknowledge the research support provided by the Business Associates Fund and the Kraft Funds at the Fuqua School of Business, helpful comments by Robert Axelrod, Michael Cohen, Fred Feinberg, J. Keith Murnighan, Kip Viscusi, Bob Winkler, and two anonymous referees, and the programming assistance of Oris Stuart and Michael Guiry.
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Moore, M.J., Moore, M.C. Adaptive learning, adaptive utility, and rational behavior in a repeated prisoner's dilemma. Journal of Risk and Uncertainty 2, 367–383 (1989). https://doi.org/10.1007/BF00356862
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DOI: https://doi.org/10.1007/BF00356862