We study investment and consumption decisions in a dynamic game under learning. To that end, we present a model in … same time, the agents learn about the stochastic process governing the evolution of public capital, including the effect of … assumption of adaptive learning) is generally intractable, we characterize the unique symmetric Bayesian-learning recursive …

We embed learning (without experimentation) in optimal growth. We extend the Mirman-Zilcha results of stochastic … optimal growth to the learning case. We use recursive methods to study the effect of learning on the dynamic program by …

We address the issue of risk aversion in a competitive equilibrium when some buyers engage in learning and information … is conveyed through the price system. Specifically, since the learning process yields uncertainty, we study the effect of …

We study learning in perfect competition. A representative price-taking firm sells a good whose quality is unknown to … the price, which, in turn, affects the competitive equilibrium through the learning process of the uninformed buyers. …

We introduce learning in a Brock-Mirman environment and study the effect of risk generated by the planner's econometric … activity on optimal consumption and investment. Here, learning introduces two sources of risk about future payoffs: structural … uncertainty and uncertainty from the anticipation of learning. The latter renders control and learning nonseparable. We present …

We introduce learning in a Brock-Mirman environment and study the effect of risk generated by the planner's econometric … activity on optimal consumption and investment. Here, learning introduces two sources of risk about future payoffs: structural … uncertainty and uncertainty from the anticipation of learning. The latter renders control and learning nonseparable. We present …