Absolutely expedient imitative behavior (Q1417440)
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scientific article; zbMATH DE number 2021095
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Absolutely expedient imitative behavior |
scientific article; zbMATH DE number 2021095 |
Statements
Absolutely expedient imitative behavior (English)
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5 January 2004
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The author analyzes a model of learning by imitation, where besides the decision maker, there is a population of individuals facing the same decision problem. He gives a simple characterization of the expediency property and shows that its basic feature is proportional imitation; the change in the probability attached to the played action is proportional to the difference between the received and the ``sampled payoff'' (which plays the role of an aspiration level).
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Bandit problem
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imitation
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0.7870045
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0.7742002
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0.7678272
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