Economic Learning, Experiments and the Limits to Information : Edward Elgar Publishing : 9781843767206 : 1843767201 : 26 May 2004 : It is only relatively recently that economists have begun to realise the importance of learning and study the impact it can have on social outcomes. This book provides an in-depth experimental analysis of current models and methods of adaptive learning in economics. It focuses on environments in which there is little information available, thus promoting the use of basic psychological concepts to model behaviour. The author describes in detail and compares, via simulations, a large number of behavioural models, ranging from early psychological concepts to recently proposed rules. He also reports on a number of experiments using novel designs and highly sophisticated cutting-edge statistical techniques for data analysis. A separate chapter exhaustively deals with the use of measures of predictive success and shows how to avoid common pitfalls when comparin