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- W2063480596 abstract "A procedure is a specific way of making this association; a procedure is optimal if the sequence of choices it generates converges to the action that maximizes the expected payoff. The information available to the agent has crucial importance. An individual learning in isolation has partial information, because he can only observe the payoff to the action he has chosen; in social learning, he has full information, because he can learn from the action of the others. Linear procedures always converge to optimal action in the case of partial information, and do not in the case of full information. Exactly the opposite is true in the case of exponential procedures. Journal of Economic Literature Classification Numbers: D1, D8, D9." @default.
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- W2063480596 title "Optimal Properties of Stimulus—Response Learning Models" @default.
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