This paper shows that price rigidity evolves in an economy populated by imperfectly rational agents who experiment with …

infinite-horizon learning, and subjective expectations with Euler-equation learning. Under rational expectations, the model … necessitates of large, possibly unrealistically so, degrees of myopia. The same result persists under infinite-horizon learning …, given that agents are still remarkably far-sighted. But, under Euler-equation learning, the model can fit the data with only …

experiment - where expectations are elicited from human subjects - to collect data on expectations, inflation and output dynamics …

infinite-horizon learning, and subjective expectations with Euler-equation learning. Under rational expectations, the model … necessitates of large, possibly unrealistically so, degrees of myopia. The same result persists under infinite-horizon learning …, given that agents are still remarkably farsighted. But, under Euler-equation learning, the model can fit the data with only …

New Keynesian theory identifies a set of principles central to the design and implementation of monetary policy. These …

How can naivete about present bias persist despite experience? To answer this question, our experiment investigates … the nature of the task at the second date further shows that learning is unencumbered by a change in environment. Our … in experimentation and a failure to activate self-regulation mechanisms. …

The importance of comprehensive annotations for learning resources is widely recognized. However, it is often unclear … how these annotations should be created. A promising solution might be that learners annotate learning resources during … execution of learning processes. This paper examines tagging as a learner-driven approach that can be used to get annotations on …

the degree of experimentation is decreasing in the safe value of resource use. Non-cooperative agents can take advantage … regime shift induces the first-best. If the status-quo is not sufficiently valuable, experimentation will be inefficiently …

The literature on learning in unknown environments emphasises reinforcing on actions which produce positive results …