The novelty of our model is to combine models of collective action on networks with models of social learning. Agents …

outperform uninformed subjects permanently, whereas subjects who observe others’ past behavior before making their decision do …

learning strategy will be used, because each performs better when it is less popular. Despite that, clustering may occur if … players choose their learning strategy on the basis of largely similar information. Finally, on average players will play Hawk …

We study a model of collective decision making with endogenous information collection.Agents collect information about … decision is made. The reason for this result is that communicationmay aggravate the free-rider problem associated with …

This essay links some of my own work on expectations, learning and bounded rationality to the inspiring ideas of Jean …-Michel Grandmont. In particular, my work on consistent expectations and behavioral learning equilibria may be seen as formalizations of … JMG's ideas of self-fulfilling mistakes. Some of our learning-to-forecast laboratory experiments with human subjects have …

Different theories of expectation formation and learning usually yield different outcomes for realized market prices in … dynamic models. The purpose of this paper is to investigate expectation formation and learning in a controlled experimental …

We develop a theoretical framework for studying the effects of interaction on the quaJity of decision-making by …