This project, a collaboration between a psychologist and economist, investigates learning and adaptive behavior in economic environments. The work has experimental, computational, and theoretical components. Broadly speaking, the aim is to help to develop game theory to make it more descriptive of observed behavior and to conduct experiments to test such theory and suggest directions for empirical work in naturally occurring markets. The larger goal is to help to understand how economic actors behave when they are learning about the economic environment, and how this may differ from their behavior when they have become very experienced with that environment.
