customers learn about a firm's product quality partially from its stock price. This learning induces feedback from the price to …

expectations by Bayesian learning based on observations from their own lifetimes. In this model, the stock price exhibits … approximated by a representative-agent model with constant-gain learning, where the gain parameter is related to the survival rate. …

expectations by Bayesian learning based on observations from their own lifetimes. In this model, the stock price exhibits … approximated by a representative-agent model with constant-gain learning, where the gain parameter is related to the survival rate …. - Learning from experience ; OLG ; asset pricing ; bubbles ; heterogeneous agents …

expectations by Bayesian learning based on observations from their own lifetimes. In this model, the stock price exhibits … approximated by a representative-agent model with constant-gain learning, where the gain parameter is related to the survival rate …

expectations by Bayesian learning based on observations from their own lifetimes. In this model, the stock price exhibits … approximated by a representative-agent model with constant-gain learning, where the gain parameter is related to the survival rate …

This paper considers the impact of heterogeneous gain learning in an asset pricing model. A relatively stylized model … of U.S financial data. The detailed mechanisms of the learning models are then explored. Evidence suggests that agents …