Market Entry Prediction Competition 2010

Faculty/Professorship: Personality Psychology and Psychological Assessment  
Author(s): Hariskos, Wasilios; Teodorescu, Kinneret; Leder, Johannes 
Title of the Journal: Games
ISSN: 2073-4336
Corporate Body: Molecular Diversity Preservation International (MDPI)
Publisher Information: Basel
Year of publication: 2011
Volume: 2
Issue: 2
Pages: 200-208
Language(s): English
DOI: 10.3390/g2020200
We submitted three models to the competition which were based on the I-SAW model. The models introduced four new assumptions. In the first model an adjustment process was introduced through which the tendency for exploration was higher at the beginning and decreased over time in the exploration stage. Another new assumption was that surprise as a factor influencing the weight of a trial in the sampling procedure was added. In the second model we added the possibility of an exclusion of unreliable experiences gained in the early trials of a game and the possibility of a revision of a reasonable alternative which was responsible for a very bad outcome in the previous trial. Three of the four added assumptions were combined in the third model. Because each of our models contains at least two new assumptions, we estimated the relative effect of each assumption on the estimation and prediction scores and carried out a test of robustness. In this way, we were able to clarify the usefulness of each added assumption.
Keywords: learning, experience, market entry game
Type: Article
Release Date: 13. September 2022