Abstract
We study a simple model of similarity-based global cumulative imitation in symmetric games with large and ordered strategy sets and a salient winning player. We show that the learning model explains behavior well in both field and laboratory data from one such “winner-takes-all” game: the lowest unique positive integer game in which the player that chose the lowest number not chosen by anyone else wins a fixed prize. We corroborate this finding in three other winner-takes-all games and discuss under what conditions the model may be applicable beyond this class of games. Theoretically, we show that global cumulative imitation without similarity weighting results in a version of the replicator dynamic in winner-takes-all games.
Original language | English |
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Pages (from-to) | 225-245 |
Number of pages | 21 |
Journal | Games and Economic Behavior |
Volume | 120 |
DOIs | |
Publication status | Published - 2020 Mar |
Subject classification (UKÄ)
- Media and Communication Technology
Free keywords
- Beauty contest
- Behavioral game theory
- Evolutionary game theory
- Imitation
- Learning
- Lowest unique positive integer game
- Mixed equilibrium
- Replicator dynamic
- Similarity-based reasoning
- Stochastic approximation