We study learning in perfect competition. A price-taking firm sells a good whose quality is unknown to some buyers. The … uninformed buyers use the price to infer information about quality. The presence of noise on the supply prevents perfect learning … learning process of the uninformed buyers …

We study how learning affects an uninformed monopolist's supply and investment decisions under multiplicative … the random demand. Observing prices reveals this information slowly. We first show how to incorporate Bayesian learning … of learning on supply and investment decisions, as well as the steady state level of capital. Our findings are as follows …

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 due to 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 …