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Adaptive Heuristics
Author(s) -
Hart Sergiu
Publication year - 2005
Publication title -
econometrica
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 16.7
H-Index - 199
eISSN - 1468-0262
pISSN - 0012-9682
DOI - 10.1111/j.1468-0262.2005.00625.x
Subject(s) - heuristics , computer science , economics , mathematical optimization , mathematics
We exhibit a large class of simple rules of behavior, which we call adaptive heuristics , and show that they generate rational behavior in the long run. These adaptive heuristics are based on natural regret measures, and may be viewed as a bridge between rational and behavioral viewpoints. Taken together, the results presented here establish a solid connection between the dynamic approach of adaptive heuristics and the static approach of correlated equilibria.