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Strategic Learning and its Limits (Hardcover)
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Strategic Learning and its Limits (Hardcover)
Series: Ryde Lectures
Expected to ship within 12 - 17 working days
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In this concise book based on his Arne Ryde Lectures in 2002, Young
suggests a conceptual framework for studying strategic learning and
highlights theoretical developments in the area. He discusses the
interactive learning problem; reinforcement and regret;
equilibrium; conditional no-regret learning; prediction,
postdiction, and calibration; fictitious play and its variants;
Bayesian learning; and hypothesis testing. Young's framework
emphasizes the amount of information required to implement
different types of learning rules, criteria for evaluating their
performance, and alternative notions of equilibrium to which they
converge. He also stresses the limits of what can be achieved: for
a given type of game and a given amount of information, there may
exist no learning procedure that satisfies certain reasonable
criteria of performance and convergence. In short, Young has
provided a valuable primer that delineates what we know, what we
would like to know, and the limits of what we can know, when we try
to learn about a system that is composed of other learners.
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