the significant growth of survivors. At the core of our theory is the interaction of adjustment costs with learning by … entering firms about their true efficiency. In our model, we consider the effect of linear and nonconvex adjustment costs, i ….e., proportional and fixed costs, and conclude that for most configurations of adjustment costs firms will start small and grow rapidly …

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 …

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 …

. This paper develops a model of learning by workers about the value of union. It explicitly models the U.S. institutional …

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

the empirical fact mentioned above. The learning model in the paper obtains this result by using a self …