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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 …
Persistent link: https://www.econbiz.de/10011333266
We study social learning in a social network setting where agents receive independent noisy signals about the truth …
Persistent link: https://www.econbiz.de/10011801379
, Simpson, and Gelman(2018), to a setting where dynamic learning occurs about features of predictive densities of possibly … misspecified models. This improves the averaging process of good and bad model forecasts. We summarise how this learning is done in … connection with machine learning. We illustrate our suggestion using results from Ba̧stürk, Borowska, Grassi, Hoogerheide, and …
Persistent link: https://www.econbiz.de/10011895574
We develop a simple model that describes individuals’ self-assessments oftheir abilities. We assume that individuals learn about their abilities from appraisalsof others and experience. Our model predicts that if communicationis imperfect, then (i) appraisals of others tend to be too positive,...
Persistent link: https://www.econbiz.de/10011348342
Persistent link: https://www.econbiz.de/10000151684
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firms survive and others do not than does neoclassical economics. At the heart of the evolutionary theory isthe view that …
Persistent link: https://www.econbiz.de/10010533203
As part of the Kyoto Protocol, many countries have committed themselves tosubstantially reduce the emission of greenhouse gases within a politically imposed timeconstraint. Investment subsidies can be an important instrument to stimulate the adoption ofenergy-saving technologies to achieve...
Persistent link: https://www.econbiz.de/10011333267
We study a model of collective decision making with endogenous information collection.Agents collect information about the consequences of a project, communicate, and then vote onthe project. We examine under what conditions communication may increase the probability thatgood decisions are made....
Persistent link: https://www.econbiz.de/10011325966
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