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Strategic Learning and Teaching

Camerer, Colin F. and Ho, Teck H. (2000) Strategic Learning and Teaching. Social Science Working Paper, California Institute of Technology , Pasadena, CA. (Unpublished)

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Decision makers learn from experience and this learning affects their future decisions. But how? Using game theory, the authors explore how people factor in the payoffs of past decisions in their current choices. The authors introduce the concept of experience-weighted attraction (EWA) to explain how people learn from their experience. Sophisticated players can use this concept to learn which strategies work and “outguess” their rivals. And by understanding how rivals and customers learn, managers can take actions that “teach” rivals and customers what you want them to believe—reassuring partners and intimidating competitors.

Item Type:Report or Paper (Working Paper)
Related URLs:
URLURL TypeDescription ItemPublished Version
Camerer, Colin F.0000-0003-4049-1871
Ho, Teck H.0000-0001-5210-4977
Additional Information:Published as Camerer, Colin F. and Ho, Teck H. (2001) Strategic Learning and Teaching. In: Wharton on Making Decisions. Wiley , New York, pp. 159-175.
Group:Social Science Working Papers
Series Name:Social Science Working Paper
Record Number:CaltechAUTHORS:20170807-171037465
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Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:79891
Deposited By: Jacquelyn Bussone
Deposited On:08 Aug 2017 02:57
Last Modified:03 Oct 2019 18:25

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