An Economist ' s Perspective on Probability Matching

  title={An Economist ' s Perspective on Probability Matching},
  author={Nir Vulkan},
The experimental phenomenon known as “probability matching” is often offered as evidence in support of adaptive learning models and against the idea that people maximise their expected utility. Recent interest in dynamic-based equilibrium theories means the term re-appears in Economics. However, there seems to be conflicting views on what is actually meant by the term and about the validity of the data. The purpose of this paper is therefore threefold: First, to introduce today’s readers to… CONTINUE READING
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