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NAJ Economics
Peer Reviews of Economics Publications xml
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Charter Editorial Board
ISSN 1558-4682 |
Volume 18 - August 04, 2010 Previous
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5. 111 11 Extensive game theoretic models of reinforcement Extensive game theoretic models of reinforcement learning assume that players make their decisions by using their experience to evaluate the extensive game strategies. A new and exciting direction of research is being suggested whereby players evaluate each action separately and choose the one with the highest valuation. When applied to win-lose games and when the valuation of an action is assumed to be the payoff received the last time the action was taken, a player with a winning strategy always wins. In the case of general payoffs and when the valuation of an action is assumed to be the average of the payoffs received when the action was taken, the players converge to a subgame perfect equilibrium.
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