We investigate the effects of both trust and sociability for stock market participation, the role of which has been …, Ageing and Retirement in Europe supplemented with regional information on generalized trust from the World Value Survey and … on specific trust to financial institutions from Eurobarometer. We show that trust and sociability have distinct and …

We examine trust and trustworthiness of individuals with varying professional preferences and experiences. Our subjects … study business and economics in Frankfurt, the financial center of Germany and continental Europe. In the trust game … process. In a prediction game that is strategically equivalent to the trust game, the amount sent by first-movers was …

distinguish between these two shocks and, under incomplete learning, private perceptions of the inflation target will not equal …

under private agent learning can in some cases be stable when the observed sunspot has a suitable time series structure. In …

the help of econometric models. Agents use least squares learning to estimate two competing models of which one is … consistent with rational expectations once learning is complete. When past performance governs the choice of forecast model …

policymakers, learning from the experience of the 1970s, eschewed activist policies in favor of policies that concentrated on the …

learning and control, variants of which have been studied in the past, but little with forward-looking variables which are a … key component of modern policy-relevant models. As in most Bayesian learning problems, the optimal policy typically … good approximation to the BOP. We provide a simple example to illustrate the role of learning and experimentation in an …