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best viewed as the end result of a learning process. We find that students enter college as open to a major in math or …
Persistent link: https://www.econbiz.de/10010291963
appeal to small and medium sized enterprises (SMEs) and because they do not promote a broader programme of learning and … paper aims to identify the conditions under which management learning is occurring, that triggers a process of on …-going environmental improvement. The main indicators of management learning identified that lead to a process of learning and change were …
Persistent link: https://www.econbiz.de/10010292515
organizational culture fosters the process of learning and competence building and works as a glue between people and the …
Persistent link: https://www.econbiz.de/10010292543
Available evidence supports the view that growth is faster in more open economies. In order to analyze the implications of openness and growth on determinacy and learnability of worldwide rational expectations equilibria we develop a two-country New Keynesian model with growth. We analyze these...
Persistent link: https://www.econbiz.de/10010292721
-of-thumb?approximation to optimal behavior by trial-and-error methods as Friedman (1953) proposed long ago We find that such individual learning …
Persistent link: https://www.econbiz.de/10010293482
The rational expectations equilibrium has been criticized as an equilibrium concept in market game environments. Such an equilibrium may not exist generically, or it may introduce unrealistic assumptions about an economic agent's knowledge or computational ability. We define a rational...
Persistent link: https://www.econbiz.de/10010293735
We extend the Bikhchandani, Hirshleifer and Welch (1992) informational cascade framework to allow for asymmetric signal accuracy. Simulations demonstrate that even small departures from symmetry may lead to non-monotonic effects of signal accuracy on the likelihood of an inefficient cascade.
Persistent link: https://www.econbiz.de/10010293828
. The results show that reinforcement learning leads to dynamics similar to those observed in standard public goods games … explained by reinforcement learning. According to our estimates, learning only accounts for 41 percent of the decay in …, differ strongly from the learning dynamics, while a learning model estimated from the limited information treatment tracks …
Persistent link: https://www.econbiz.de/10010294798
Tax incentives can be more or less salient, i.e. noticeable or cognitively easy to process. Our hypothesis is that taxes on consumers are more salient to consumers than equivalent taxes on sellers because consumers underestimate the extent of tax shifting in the market. We show that tax salience...
Persistent link: https://www.econbiz.de/10010294826
equilibrium dynamics resulting from this learning process helps to explain the main stylized facts of free-floating exchange rates … the number of agents (not more than about 1000). With a larger population, this collective learning dynamics looses its …
Persistent link: https://www.econbiz.de/10010295111