Narrow search
Showing 1 - 4 of 4
Cover Image
Self-confidence and survival
Bar-Isaac, Heski - London School of Economics (LSE) - 2001
We consider the impact of history on the survival of a monopolist selling single units in discrete time periods, whose quality is learned slowly. If the seller learns her own quality at the same rate as customers, a sufficiently bad run of luck could induce her to stop selling. When she knows...
Persistent link: https://www.econbiz.de/10010746467
Cover Image
Monetary policy and learning in an open economy
Ellison, Martin; Sarno, Lucio; Vilmunen, Jouko - EconWPA - 2004
uncertainty and learning. We find that the presence of a strategic interaction between the home and foreign central banks creates …
Persistent link: https://www.econbiz.de/10005561306
Cover Image
A learning hypothesis of the term structure of interest rates
Romhányi, Balázs - EconWPA - 2005
Recent empirical results about the US term structure are difficult to reconcile with the classical hypothesis of rational expectations even if time-varying but stationary term premia are allowed for. A hypothesis of rational learning about the conditional variance of the log pricing kernel is...
Persistent link: https://www.econbiz.de/10005412568
Cover Image
Uncertainty and leveraged Lucas Trees: the cross section of equilibrium volatility risk premia
Vedolin, Andrea - London School of Economics (LSE) - 2012
orchard with heterogeneous beliefs, stochastic macro-economic uncertainty, and default risk. I study two manifestations of … uncertainty, namely (i) agents’ disagreement and (ii) time-varying volatility of fundamental growth rates. The paper shows that … moments of the risk premium distribution. Together with uncertainty, default risk associated with levered trees implies a non …
Persistent link: https://www.econbiz.de/10010745732