Melioration: A Theory of Distributed Choice
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چکیده
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منابع مشابه
Melioration learning in games with constant and frequency-dependent pay-offs
The paper explores the implications of melioration learning—an empirically significant variant of reinforcement learning—for game theory. We show that in games with invariable pay-offs melioration learning converges to Nash equilibria in a way similar to the replicator dynamics. Since melioration learning is known to deviate from optimizing behavior when an action’s rewards decrease with increa...
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According to the theory of Melioration, organisms in repeated choice settings shift their choice preference in favor of the alternative that provides the highest return. The goal of this paper is to explain how this learning behavior can emerge from microscopic changes in the efficacies of synapses, in the context of a two-alternative repeated-choice experiment. I consider a large family of syn...
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Melioration-defined as choosing a lesser, local gain over a greater longer term gain-is a behavioral tendency that people and pigeons share. As such, the empirical occurrence of meliorating behavior has frequently been interpreted as evidence that the mechanisms of human choice violate the norms of economic rationality. In some environments, the relationship between actions and outcomes is know...
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The theory of melioration, originally formulated for individual decision-making contexts, is formally extended to a game theoretic framework. This paper proves the existence of a distribution that is a melioration strategy on the part of all players. Further, the question of stability of such a distribution is studied. JEL Classification Numbers: C62; C72.
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Situations that present individuals with a conflict between local and global gains often result in a behavioral pattern known as melioration — a preference for immediate rewards over higher long-term gains. Using a variant of a paradigm by Tunney & Shanks (2002), we explored the potential role of feedback as a means to reduce this bias. We hypothesized that frequent and informative feedback abo...
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