of life, but learn in a Bayesian way with successive income observations. We find that learning is very slow and affects …

market equilibrium and find that the average learning curve is S-shaped: learning is slow initially, intensifies rapidly and … finally converges slowly to the truth. We show that increasing public information always slows down learning in the long run …

from a VAR estimated on US data. The paper investigates whether introducing bounded rationality and learning generates … comparing the model with learning with a version that imposes rational expectations. Given that the asymptotic behavior of the …

This paper develops and structurally estimates a learning model in which firms acquire information about workers … jobs and firms. Because of the trade--off between learning and short--run profit maximization, a firm's optimal job … learning model can succeed in fitting the dynamic pattern of separations, promotions and demotions, and individual wage …

This paper investigates a learning model in which information about a worker's ability, unobserved to both the worker … requires. We then examine the strategic effects of the dynamics of learning on a worker's career profile. We prove that price …

We introduce learning based on genetic algorithms in a principal-agent model of optimal contracting under moral hazard … explore is to explicitly model the principal's learning process about the agent's preferences and the production technology … learning algorithms lead to convergence to the underlying optimal contract under full rationality as studied by the mechanism …