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on Evolutionary Economics |
| By: | Gautam Bose (School of Economics, Australian School of Business, the University of New South Wales); Lorraine Ivancic (School of Economics, Australian School of Business, the University of New South Wales); Evgenia Dechter (School of Economics, Australian School of Business, the University of New South Wales) |
| Abstract: | There is substantial experimental and empirical evidence to suggest that individual behaviour in bilateral or small-group interactions is affected by social norms. Further, social norms vary according to context. Previous research largely focuses on norms of fairness, not norms per se. We design an experiment to decouple norm-adherence from fairness. We find that (a) a group norm evolves and individuals cluster more tightly around it as they learn the average behaviour of the group, (b) actions further from this norm in a self-serving direction are less acceptable by others, and (c) when an agent is moved to a group with a different norm, s/he conforms quickly to the new norm. |
| Keywords: | group behaviour, norms, conformism, fairness, ultimatum game |
| JEL: | C72 C78 C92 Z13 |
| Date: | 2014–04 |
| URL: | http://d.repec.org/n?u=RePEc:swe:wpaper:2014-21&r=evo |
| By: | Jason Shachat; J. Todd Swarthout |
| Abstract: | We report results from an experiment in which humans repeatedly play one of two games against a computer program that follows either a reinforcement or an experience weighted attraction learning algorithm. Our experiment shows these learning algorithms detect exploitable opportunities more sensitively than humans. Also, learning algorithms respond to detected payoff-increasing opportunities systematically; however, the responses are too weak to improve the algorithms' payoffs. Human play against various decision maker types doesn't vary significantly. These factors lead to a strong linear relationship between the humans' and algorithms' action choice proportions that is suggestive of the algorithms' best response correspondences. |
| Keywords: | Learning, Repeated games, Experiments, Simulation |
| JEL: | C72 C92 C81 |
| Date: | 2013–10–14 |
| URL: | http://d.repec.org/n?u=RePEc:wyi:wpaper:002031&r=evo |
| By: | Luca Polonio; Sibilla Di Guida; Giorgio Coricelli |
| Abstract: | We used eye-tracking to measure the dynamic patterns of visual information acquisition in twoplayers normal form games. Participants played one-shot games in which either, neither, or only oneof the players had a dominant strategy. First, we performed a mixture models cluster analysis to groupparticipants into types according to the pattern of visual information acquisition observed in a singleclass of games. Then, we predicted agents’ choices in different classes of games, and observed thatpatterns of visual information acquisition were game invariant. Our method allowed us to predictwhether the decision process would lead to equilibrium choices or not, and to attribute out-ofequilibriumresponses to limited cognitive capacities or social motives. Our results suggest theexistence of individually heterogeneous-but stable-patterns of visual information acquisition basedon subjective levels of strategic sophistication and social preferences. |
| Keywords: | game theory; strategic sophistication; social preferences; attention; eye-tracking |
| Date: | 2014–04 |
| URL: | http://d.repec.org/n?u=RePEc:eca:wpaper:2013/159867&r=evo |
| By: | Proto, Eugenio (Department of Economics, University of Warwick); Rustichini, Aldo (Department of Economics, University of Minnesota) |
| Abstract: | Cooperating behavior may be fostered by personality traits reflecting either favorable inclination to others or willingness to comply with norms and rules. We test the relative importance of these two factors in an experiment where subjects provide real mental effort in two treatments with identical task, differing only by whether others' payment is affected. If the first hypothesis is true, subjects reporting high Agreeableness score should put more effort; if the second is true, reporting higher Conscientiousness should predict more effort. We find experimental support for the second hypothesis but not for the first, as subjects reporting high Altruism do not behave consistently with this statement. Key words: Personality Traits ; Cooperation ; Effort Provision JEL classification: C90 ; D03 ; D82 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:wrk:warwec:1045&r=evo |
| By: | Strulik, Holger; Werner, Katharina |
| Abstract: | For most of human history there existed a well-educated and innovative elite whereas mass education, market R&D, and high growth are phenomena of the modern period. In order to explain these phenomena we propose an innovation-driven growth model for the very long run in which the individual-specific return to education is conceptualized as an compound of cognitive ability and family background. This allows us to establish a locally stable steady state at which family background determines whether an individual experiences education and a locally stable steady state at which education is determined by cognitive ability. Compulsory schooling can move society from elite education to mass education. An interaction between education and life expectancy explains why the education period gets longer with ongoing economic development. Embedding this household behavior into a macro-economy we can explain different paths to modern growth: According to the Prussian way, compulsory education is implemented first and triggers later on the onset of market R&D and modern growth. According to the British way, market R&D and the take off to growth is initiated without mass education, which is triggered later by technical progress and economic development. -- |
| Keywords: | long-run growth,elite education,compulsory education,longevity,R&D |
| JEL: | I24 J24 O30 O40 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:cegedp:205&r=evo |