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 …

This paper develops a theory of expectations-driven business cycles based on learning. Agents have incomplete knowledge … series is captured, unlike in standard models. Inherited from real business cycle theory, the benchmark model suffers a …

, endogenous learning here eliminates that effect …

We study the perfect Bayesian equilibrium of a model of learning over a general social network. Each individual … characterize the conditions under which there will be asymptotic learning -- that is, the conditions under which, as the social … unbounded (meaning that the implied likelihood ratios are unbounded), there will be asymptotic learning as long as there is some …

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 …

a quality upgrade one of these inputs requires a period of learning before it can be used effectively, then in general … wasteful to tie up funds in the other inputs which will be underutilized until the date learning is over. We provide evidence …

triggers large asset-price jumps. We show that the learning choice is critically determined by preference parameters and the …

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 …

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 …

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 …