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We study market dynamics when an owner learns over time about the quality of her asset. Since this information is private, the owner sells strategically to a less informed buyer following sufficient negative information. In response, market prices feature a "U-shape" relative to the length of...
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Most learning in the workplace occurs outside of formal learning environments—it happens informally, “in the field.” In … this review, we share what is known about how such informal field-based learning (IFBL) works, offer guidance on how to … promote healthy IFBL, and identify future research needs. We first situate IFBL within the broader stream of the learning …
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technologies display learning effects and agents’ rate of learning is private knowledge. In a simple two-period model with full … commitment available to the principal, we show that whether learning effects are over- or under-exploited crucially depends on … whether learning effects increase or decrease the principal’s uncertainty about agents’ costs of production. Hence, what …
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