We study learning in perfect competition. A representative price-taking firm sells a good whose quality is unknown to … the price, which, in turn, affects the competitive equilibrium through the learning process of the uninformed buyers. …

observing prices. In a noisy learning environment, price discrimination can be detrimental to the firm and beneficial to the …

how policy choices affect learning of the true model of the economy when the policymaker’s model is mis-specified. We ask … the impact of exogenous shocks and of adopting an optimal monetary policy on the speed of learning. Slow learning can … neither real-time learning by the policymaker or the private sector, nor the adoption of an optimal policy, affect the speed …

We study investment and consumption decisions in a dynamic game under learning. To that end, we present a model in … assumption of adaptive learning) is generally intractable, we characterize the unique symmetric Bayesian-learning recursive … limits of the equilibrium outcomes for a finite horizon exist. The addition of learning to a stochastic environment is shown …

this paper, we study the identification of moral hazard from adverse selection and learning within the context of a multi …-period dynamic model. We extend the model of Abbring et al. (2003) to include learning and insurance coverage choice over time. We … 15 years). Policyholders with less than 5 years of experience have a combination of learning and moral hazard, whereas no …

We address the issue of risk aversion in a competitive equilibrium when some buyers engage in learning and information … is conveyed through the price system. Specifically, since the learning process yields uncertainty, we study the effect of …

We introduce learning in a dynamic game of international pollution, with ecological uncertainty. We characterize and … ecological uncertainty but they gain information (learn) about it. We then compare our learning model with the benchmark model of … anticipative learning induces a decrease in total emissions, but not necessarily in individual emissions. Further, the effect of …

We embed learning (without experimentation) in optimal growth. We extend the Mirman-Zilcha results of stochastic … optimal growth to the learning case. We use recursive methods to study the effect of learning on the dynamic program by …

. Three problems are examined: moral hazard, adverse selection, and asymmetric learning. One theoretical conclusion, drawn by … that adverse selection is related to exogenous characteristics, while asymmetric learning and moral hazard are due to …