CiteULike is a free online bibliography manager. Register and you can start organising your references online.

Why Imitate, and If So, How? A Boundedly Rational Approach to Multi-armed Bandits Export

Journal of Economic Theory (January 1998), pp. 130-156.

Citation Format

[Posts]

View FullText article


gagliol's tags for this article

bandit social-learning

X Reviews [Write a review of this article]

X Find related articles from these CiteULike users

X Find related articles with these CiteULike tags

X Posting History

X Abstract

Individuals in a finite population repeatedly choose among actions yielding uncertain payoffs. Between choices, each individual observes the action and realized outcome of one other individual.We restrict our search to learning rules with limited memorythat increase expected payoffs regardless of the distributionunderlying their realizations. It is shown that the rule thatoutperforms all others is that which imitates the action ofan observed individual (whose realized outcome is better thanself) with a probability proportional to the difference in theserealizations. When each individual uses this best rule,the aggregate population behavior is approximated by thereplicator dynamic. Journal of Economic Literature ClassificationNumbers: C72, C79, D83.Copyright 1998 Academic Press.


X BibTeX record

X RIS record


Privacy Statement | Terms & Conditions
CiteULike organises scholarly (or academic) papers or literature and provides bibliographic (which means it makes bibliographies) for universities and higher education establishments. It helps undergraduates and postgraduates. People studying for PhDs or in postdoctoral (postdoc) positions. The service is similar in scope to EndNote or RefWorks or any other reference manager like BibTeX, but it is a social bookmarking service for scientists and humanities researchers.