infinite-horizon learning, and subjective expectations with Euler-equation learning. Under rational expectations, the model … necessitates of large, possibly unrealistically so, degrees of myopia. The same result persists under infinite-horizon learning …, given that agents are still remarkably far-sighted. But, under Euler-equation learning, the model can fit the data with only …

-term relationships were more resilient in the 2008/9 financial crisis. Based on these findings, we present a model of importer learning …

private returns to education within the employer learning framework of Farber and Gibbons [1996] and Altonji and Pierret [2001 …

We develop a model of firm learning in volatile markets with noisy signals and test its predictions using historical … improvements from learning are faster where market signals are noisier. …

the nature of the task at the second date further shows that learning is unencumbered by a change in environment. Our …

We report two information cascade game experiments that directly test the impact of altruism on observational learning … opportunities to learn about the strategies played by observed which amplifies the impact of altruism on observational learning. …

neighbours’ experiences. In contrast to the existing work on policy learning, we focus on learning in the presence of (fiscal …) externalities. We show that, because learning can exacerbate this external-ity, the value of learning can be negative and, thus …, learning may be too fast. Given that variance in tax policies enhances learning, this implies that, in the sequence of Markov …