Abstract
We use machine learning to uncover regularities in the initial play of matrix games. We first train a prediction algorithm on data from past experiments. Examining the games where our algorithm predicts correctly, but existing economic models don't, leads us to add a parameter to the best performing model that improves predictive accuracy.Wethenobserveplayinacollectionofnew“algorithmically generated” games, and learn that we can obtain even better predictions with a hybrid model that uses a decision tree to decide game-by-game which of two economic models to use for prediction.
Original language | English (US) |
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Pages (from-to) | 4112-4141 |
Number of pages | 30 |
Journal | American Economic Review |
Volume | 109 |
Issue number | 12 |
DOIs | |
State | Published - Dec 2019 |
Externally published | Yes |
ASJC Scopus subject areas
- Economics and Econometrics