We study third-degree price discrimination in the presence of uninformed buyers who extract noisy information from … observing prices. In a noisy learning environment, price discrimination can be detrimental to the firm and beneficial to the … posterior beliefs is reduced. Specifically, observing two prices under discriminatory pricing provides more information than one …

effect of asymmetric information and learning on the equilibrium outcomes. More uninformed buyers increases the price … conveys full information about the quality of the good to uninformed buyers. Deceiving the uninformed buyers by charging a …

We study investment and consumption decisions in a dynamic game under learning. To that end, we present a model in … assumption of adaptive learning) is generally intractable, we characterize the unique symmetric Bayesian-learning recursive … limits of the equilibrium outcomes for a finite horizon exist. The addition of learning to a stochastic environment is shown …

output, market price, information flows, and expected profits. The presence of noise may reduce the informational externality … due to asymmetric information, which increases the firm's expected profits. …

equilibrium. We first study the behavior of the monopoly when price conveys information about quality. We then show the effect of … information flows on welfare, i.e., profit and consumer surplus. …

We address the issue of risk aversion in a competitive equilibrium when some buyers engage in learning and information … is conveyed through the price system. Specifically, since the learning process yields uncertainty, we study the effect of … risk aversion on the equilibrium outcomes of the model, including the amount of information released by the market. We show …

ecological uncertainty but they gain information (learn) about it. We then compare our learning model with the benchmark model of …We introduce learning in a dynamic game of international pollution, with ecological uncertainty. We characterize and … full information, where players know the distribution of ecological uncertainty. We find that uncertainty due to …

uninformed buyers. We then compare the signaling Cournot equilibrium with the full-information Cournot equilibrium. Signaling is …. In other words, the profits under signaling Cournot equal the profits of a cartel in a full-information environment. …