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 …

The paper illustrates how one may assess our comprehensive uncertainty about the various relations in the entire chain ….5 deg;C. The 99 percent confidence interval ranges from 3.0 deg;C to 6.9 deg;C. Uncertainty about socio-economic drivers of … climate change lie behind a non-trivial part of this uncertainty about global warming …

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 …

social learning in which the consumption decisions of individuals depend on information they receive from their peers. The … pieces of evidence are consistent with social learning. First, sales of movies with positive surprise and negative surprise …, social learning appears to be an important determinant of sales in the movie industry, accounting for 38% of sales for 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 …

This paper provides an investigation of the role of momentum and social learning in sequential voting systems. In the …, demonstrating a significant departure from the ideal of quot;one person, one vote.quot; We then address several alternative, non-learning …

different learning mechanisms within the investor population, we characterize the optimal timing of obfuscation for financial … participation in the market. We show that educational initiatives that are directed to facilitate learning by investors may induce …

Parameter learning strongly amplifies the impact of macro shocks on marginal utility when the representative agent has … a preference for early resolution of uncertainty. This occurs as rational belief updating generates subjective long … variance of shocks, rare events, or model selection. Overall, parameter learning generates long-lasting, quantitatively …

uncertainty over climate change and its impact, why there is so much uncertainty, and why we will continue to face uncertainty in … the near future. I also explain the policy implications of climate change uncertainty. First, the uncertainty … stronger actions to reduce CO2 emissions. Second, uncertainty interacts with two kinds of irreversibilities. First, CO2 remains …