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 …

) decision criterion to account for deep uncertainty in climate modeling. Here we study choice of climate policy that minimizes … maximum regret with deep uncertainty regarding both the correct climate model and the appropriate time discount rate to use in … normative uncertainty about the appropriate rate. The findings regarding climate policy are novel and informative. The MMR …

planning or capacity expansion models that use deterministic or equilibrium optimization methods. While uncertainty in key …

The paper illustrates how one may assess our comprehensive uncertainty about the various relations in the entire chain ….5 °C. The 99 percent confidence interval ranges from 3.0 °C to 6.9 °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 …

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 …

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 …

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 "one person, one vote." We then address several alternative, non-learning …

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 …