Learning and Information Aggregation in an Exit Game
研究玩家在不确定收益的停止博弈中如何通过私人经验和观察他人行动来学习，并刻画了对称混合策略均衡，发现信息通过随机退出波聚合，观察学习使玩家更久留在游戏中。
We analyse information aggregation in a stopping game with uncertain pay-offs that are correlated across players. Players learn from their own private experiences as well as by observing the actions of other players. We give a full characterization of the symmetric mixed strategy equilibrium, and show that information aggregates in randomly occurring exit waves. Observational learning induces the players to stay in the game longer. The equilibria display aggregate randomness even for large numbers of players.