correlated learning may render it optimal to enter markets sequentially – an investment in market A is only followed by entry in …, we identify correlated learning across markets beyond alternative explanations as a key driver of gradualism in the …

We propose a simple model of optimal stopping where the economic environment changes as a result of learning. A primary … idiosyncratic productivity distribution across firms. For the first model, we show that learning leads to higher wage demands by the … workers. In the second model, we give sufficient conditions so that learning leads to higher wage demands for optimistic …

uncertainty, that there is a learning cost associated with interest rate reversals. A policy that frequently reverses the interest … monetary policy internalizes this learning cost and therefore has a lower number of interest rate reversals. The incentive to …

We introduce learning into a Hotelling model of a non-renewable resource market. By combining learning and scarcity we … add significantly to the dynamics implied by learning and substantially enhance the volatility of commodity prices. In our … learning model we show how a self confirming equilibrium exists but is not constant over time. As scarcity increases the SCE …