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periods of varying length that full accounts of subjects' learning requires the consideration of, both, 'period time' and …
Persistent link: https://www.econbiz.de/10013326949
disagreement regardless of cognitive ability. Learning about the state of the world has little effect on the evolution of perceived …
Persistent link: https://www.econbiz.de/10014477417
the nature of the task at the second date further shows that learning is unencumbered by a change in environment. Our …
Persistent link: https://www.econbiz.de/10011976128
Persistent link: https://www.econbiz.de/10012820695
We investigate experimentally whether social learners appreciate the redundancy of information conveyed by their observed predecessors' actions. Each participant observes a private signal and enters an estimate of the sum of all earlier-moving participants' signals plus her own. In a first...
Persistent link: https://www.econbiz.de/10011899219
This paper introduces a reinforcement learning based approach to compute optimal interest rate reaction functions in …
Persistent link: https://www.econbiz.de/10012792732
Economic development theories and their learning frameworks differently address farms and firms. This article argues …-recognizes learning and innovation in agriculture and its crossover supplier segments with manufacturing. The sections analyze …. It then analyzes the learning implications of two theories - unlimited labor and induced innovation - on economic …
Persistent link: https://www.econbiz.de/10012057489
The recent crisis in the United States has often been associated with substantial amounts of policy uncertainty. In this paper we ask how uncertainty about fiscal policy affects the impact of fiscal policy changes on the economy when the government tries to counteract a deep recession. The...
Persistent link: https://www.econbiz.de/10010211956
Survey data on inflation expectations show that: (i) private sector forecasts and central bank forecasts are not fully aligned and (ii) private sector forecasters disagree about inflation expectations. To reconcile these two facts we introduce dispersed information in a New Keynesian model,...
Persistent link: https://www.econbiz.de/10011520661
econometric learning scheme as proposed by Laubach, Tetlow, and Williams (2007) in the estimation and compare the results to those … form their expectations according to the learning approach. …
Persistent link: https://www.econbiz.de/10010471626