Predicting and Understanding Initial Play

被引:28
|
作者
Fudenberg, Drew [1 ]
Liang, Annie [2 ]
机构
[1] MIT, Dept Econ, 77 Massachusetts Ave, Cambridge, MA 02139 USA
[2] Univ Penn, Dept Econ, 133 South 36th St, Philadelphia, PA 19104 USA
来源
AMERICAN ECONOMIC REVIEW | 2019年 / 109卷 / 12期
基金
美国国家科学基金会;
关键词
NORMAL-FORM GAMES; COGNITIVE HIERARCHY MODEL; BOUNDED RATIONALITY; RISK-AVERSION;
D O I
10.1257/aer.20180654
中图分类号
F [经济];
学科分类号
02 ;
摘要
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. We then observe play in a collection of new "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.
引用
收藏
页码:4112 / 4141
页数:30
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