common prior is induced, while for other distributions behavior is similar under both regimes. We also present a learning … show that this learning model accurately accounts for all main features of the data. …

This paper uses a cognitive theory of firms and organizations, with a focus on learning and innovation.Here, cognition … between that cognitive theory and Penrose's theory of the growth of the firm.As in Penrose's work, the focus is on learning …, concerning the role of other human resources than managers in organizational learning, problems of conflicts of interest and …

which the central bank has to learn the private sector inflation forecasting rule.Here, the learning scheme we investigate … is that of least-squares learning (recursive OLS) using the Kalman filter.With imperfect knowledge, results depend on the … learning scheme that is employed.A novel feature of the passive learning policy - compared to the central bank s disinflation …

of learning by doing.This paper provides discrete-time adjustment processes for strategic games in which players display … the recent past, in line with much of the literature on learning.These processes eventually settle down in the minimal …

active learning possibilities has e®ects on the optimal interest rate rule followed by the central bank.For a wide range of …