Abstract
This article studies situations in which agents do not initially know the effect of their decisions, but learn from experience the payoffs induced by their choices and their opponents'. We chararacterize equilibrium payoffs in terms of simple strategies in which an exploration phase is followed by a payoff acquisition phase.
| Original language | English |
|---|---|
| Pages (from-to) | 25-47 |
| Number of pages | 23 |
| Journal | Games and Economic Behavior |
| Volume | 42 |
| Issue number | 1 |
| DOIs | |
| Publication status | Published - 1 Jan 2003 |
| Externally published | Yes |
Keywords
- Bandit problems
- Games with incomplete information
- Public value of information
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