Adaptive learning, adaptive utility, and rational behavior in a repeated prisoner's dilemma

Michael J. Moore*, Marian Chapman Moore

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

5 Scopus citations

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.

Original languageEnglish (US)
Pages (from-to)367-383
Number of pages17
JournalJournal of Risk and Uncertainty
Volume2
Issue number4
DOIs
StatePublished - Dec 1 1989

Keywords

  • adaptive learning
  • adaptive utility
  • rational behavior

ASJC Scopus subject areas

  • Accounting
  • Finance
  • Economics and Econometrics

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