Showing 1 - 10 of 28
This paper argues that openness to new, unconventional and disruptive ideas has a first-order impact on creative innovations-innovations that break new ground in terms of knowledge creation. After presenting a motivating model focusing on the choice between incremental and radical innovation,...
Persistent link: https://www.econbiz.de/10013034169
voting and social learning, we illustrate that sequential elections place too much weight on the preferences and information …
Persistent link: https://www.econbiz.de/10013106663
, endogenous learning here eliminates that effect …
Persistent link: https://www.econbiz.de/10012946007
Learning or experience curves are widely used to estimate cost functions in manufacturing modeling. They have recently … shows that there is a fundamental statistical identification problem in trying to separate learning from exogenous … technological change and that the estimated learning coefficient will generally be biased upwards. Second, we present two empirical …
Persistent link: https://www.econbiz.de/10012758017
is unobserved, and he optimally learns from observations of the economy. This is a classic problem of learning and … of modern policy-relevant models. As in most Bayesian learning problems, the optimal policy typically includes an … approximation to the BOP. We provide some simple examples to illustrate the role of learning and experimentation in an MJLQ …
Persistent link: https://www.econbiz.de/10012759822
This paper develops a theory of expectations-driven business cycles based on learning. Agents have incomplete knowledge …
Persistent link: https://www.econbiz.de/10012770876
treatment effects in education. To begin, we present a simple model of student learning that incorporates permanent as well as … transitory learning gains. Using this model, we demonstrate how the parameter of interest - the persistence of a particular …
Persistent link: https://www.econbiz.de/10012771709
networks are recognized as the most credible source of information about new technologies. We incorporate social learning in … communicator influences learning and adoption. Farmers find communicators who face agricultural conditions and constraints most … comparable to themselves to be the most persuasive. Incorporating communication dynamics can take the influential social learning …
Persistent link: https://www.econbiz.de/10013053835
by a worker for learning those skills. This measure arises naturally in a dynamic model of occupational choice and human … capital accumulation with multidimensional skills and Bayesian learning about one's ability to learn skills. Not only does …
Persistent link: https://www.econbiz.de/10013019128
Peer effects are potentially important for understanding the optimal organization of schools, jobs, and neighborhoods, but finding evidence is difficult because people are selected into peer groups based, in part, on their unobservable characteristics. I identify the effects of peers whom a...
Persistent link: https://www.econbiz.de/10013221083