What do machines learn, and why? To answer these questions we import models of human cognition into machine learning …. We propose two ways of modeling machine learners based on this join: feasibility-based and cost-based machine learning …. We evaluate and estimate our models using a deep learning convolutional neural network that predicts pneumonia from chest …

We develop and estimate a model of consumer search with spatial learning. Consumers make inferences from previously … attribute space, and consumers take larger steps away from rarely purchased products. Eliminating spatial learning reduces … consumer welfare by 13%: cross-product inferences allow consumers to locate better products in a shorter time. Spatial learning …

comparable to themselves to be the most persuasive. Incorporating communication dynamics can take the influential social learning … networks are recognized as the most credible source of information about new technologies. We incorporate social learning in … communicator influences learning and adoption. Farmers find communicators who face agricultural conditions and constraints most …

grows large. Under truthful communication, we show that asymptotic learning occurs if (and under some additional conditions … equilibrium when the communication network induces asymptotic learning. Moreover, we contrast equilibrium behavior with a socially … communication networks that lead to asymptotic learning. Our result shows that societies with too many and sufficiently large social …

investigate this claim using a simple model of Bayesian learning. Two individuals with different priors observe the same infinite … behavior in a range of circumstances. We illustrate how the type of learning outlined in this paper interacts with economic …

communication about future interest rate decisions based on information from the Internet and news sources. We apply the methodology … announcements, whereas longer-dated Treasuries mainly react to changes in policy communication. Using lower frequency data, we find …, we find communication to be a more important determinant of Treasury rates than contemporaneous policy rate decisions …

communication by central banks about their policy decisions, the targets that they seek to achieve through those decisions, and the … central bank's view of the economy's likely future evolution. This paper considers the role of such communication in the …