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-response and reinforcement learning but not under fictitious play. The simulations perform well under flat and upward …-slopping supply bidding, and also for plausible demand elasticity assumptions. Learning is influenced by the number of bids per plant …
Persistent link: https://www.econbiz.de/10008470415
This paper investigates the role of learning by private agents and the central bank (two-sided learning) in a New … these beliefs through a statistical learning algorithm as new information becomes available. We study the short-run dynamics … demonstrate that two-sided learning can generate substantial increases in volatility and persistence, and alter the behavior of …
Persistent link: https://www.econbiz.de/10010896610