Showing 1 - 10 of 524
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 …
Persistent link: https://www.econbiz.de/10013435162
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 …
Persistent link: https://www.econbiz.de/10014372454
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 …
Persistent link: https://www.econbiz.de/10012458525
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 …
Persistent link: https://www.econbiz.de/10012462246
We explore a model of non-Bayesian information aggregation in networks. Agents non-cooperatively choose among Friedkin-Johnsen type aggregation rules to maximize payoffs. The DeGroot rule is chosen in equilibrium if and only if there is noiseless information transmission...leading to consensus....
Persistent link: https://www.econbiz.de/10013190991
We analyze the behavior of game-show contestants who play a one-shot game called Friend or Foe. While it is a weakly dominant strategy not to cooperate, almost half the contestants on the show choose to play friend.' Remarkably, the behavior of contestants remains unchanged even when stakes are...
Persistent link: https://www.econbiz.de/10012468893
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 …
Persistent link: https://www.econbiz.de/10012466013
informal communication - including unattributed communication -- plays a central role in monetary policy communication. This … contrasts with the standard communications framework in which communication should be public and on-the-record because it serves … to ensure accountability and policy effectiveness. I lay out possible benefits of using unattributed communication as an …
Persistent link: https://www.econbiz.de/10012482494
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 …
Persistent link: https://www.econbiz.de/10012466773
, households react in a sophisticated way, as predicted by a Bayesian learning model, effectively de-biasing the official data to …
Persistent link: https://www.econbiz.de/10012456571