Explanatory power of behavioral models in the newsvendor problem: a simulation study
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DOI: 10.1007/s10100-018-0589-9
Abstract: Experience weighted attraction (EWA) combines reinforcement learning with fictious play models and has proven to perform well as an explanatory model in economic experiments on individual decision making. Yet, EWA is a relatively complex model… read more here.
Keywords: decision; ewa; explanatory power; simulation study ... See more keywords
Heterogeneity in generalized reinforcement learning and its relation to cognitive ability
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DOI: 10.1016/j.cogsys.2016.11.001
Abstract: Abstract In this paper, we study the connections between working memory capacity (WMC) and learning in the context of economic guessing games. We apply a generalized version of reinforcement learning, popularly known as the experience-weighted… read more here.
Keywords: memory capacity; reinforcement learning; working memory; ewa ... See more keywords