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Caplin, Andrew - 2015

learning in guiding selective attention and market dynamics. We confirm that attention focuses on options that quickly achieve …

Persistent link: https://www.econbiz.de/10012457666

Strategic Trading in Informationally Complex Environments

Lambert, Nicolas S. - 2014

We study trading behavior and the properties of prices in informationally complex markets. Our model is based on the single-period version of the linear-normal framework of Kyle (1985). We allow for essentially arbitrary correlations among the random variables involved in the model: the value of...

Persistent link: https://www.econbiz.de/10012458151

Information Costs and Sequential Information Sampling

Hébert, Benjamin - 2018

We propose a new approach to modeling the cost of information structures in rational inattention problems, the "neighborhood-based" cost functions. These cost functions have two properties that we view as desirable: they summarize the results of a sequential evidence accumulation problem, and...

Persistent link: https://www.econbiz.de/10012480967

Behavioral Implications of Rational Inattention with Shannon Entropy

Caplin, Andrew - 2013

The model of rational inattention with Shannon mutual information costs is increasingly ubiquitous. We introduce a new solution method that lays bare the general behavioral properties of this model and liberates development of alternative models. We experimentally test a key behavioral property...

Persistent link: https://www.econbiz.de/10012459344

When Does Libertarian Paternalism Work?

Carlin, Bruce Ian - 2009

learning. Individuals in our model are permitted to appreciate and use the information content in the default options set by …

Persistent link: https://www.econbiz.de/10012463511

Learning in the Credit Card Market

Agarwal, Sumit - 2008

Agents with more experience make better choices. We measure learning dynamics using a panel with four million monthly … learning is not monotonic. Knowledge effectively depreciates about 10% per month, implying that learning displays a strong …

Persistent link: https://www.econbiz.de/10012464825

Learning and Disagreement in an Uncertain World

Acemoglu, Daron - 2006

investigate this claim using a simple model of Bayesian learning. Two individuals with different priors observe the same infinite … behavior in a range of circumstances. We illustrate how the type of learning outlined in this paper interacts with economic …

Persistent link: https://www.econbiz.de/10012466013

The Role of Information in Competitive Experimentation

Akcigit, Ufuk - 2011

Technological progress is typically a result of trial-and-error research by competing firms. While some research paths lead to the innovation sought, others result in dead ends. Because firms benefit from their competitors working in the wrong direction, they do not reveal their dead-end...

Persistent link: https://www.econbiz.de/10012461055

Is it Live or is it Internet? Experimental Estimates of the Effects of Online Instruction on Student Learning

Figlio, David N. - 2010

This paper presents the first experimental evidence on the effects of live versus internet media of instruction. Students in a large introductory microeconomics course at a major research university were randomly assigned to live lectures versus watching these same lectures in an internet...

Persistent link: https://www.econbiz.de/10012462566

Observational Learning : Evidence from a Randomized Natural Field Experiment

Cai, Hongbin - 2007

We present results about the effects of observing others' choices, called observational learning, on individuals …' behavior and subjective well-being in the context of restaurant dining from a randomized natural field experiment. Our … experimental design aims to distinguish observational learning effect from saliency effect (because observing others' choices also …

Persistent link: https://www.econbiz.de/10012465130