efficacy beliefs regarding others and chance. A first empirical survey-based test produces substantial support for our theory …

rational expectations paradigm and are also not in line with the predictions of the rational Bayesian learning paradigm. We … therefore introduce a model of Bayesian learning which combines rational learning with the possibility that the interpretation … of new information is prone to psychological attitudes. We estimate the parameters of our theoretical model by pooling …

major learning mechanisms. On the one hand, real options theory suggests a process based on financial data. On the other …, extract and exploit external knowledge. We test both hypotheses on an empirical basis for more than 600 German firms, covering … project selection patterns. Extensive Ramp;D experience materializes as a stock of knowledge that enables firms to judge …

Since central banks have limited information concerning the transmission channel of monetary policy, they are faced … tradeoff between estimation and control arises because policy actions influence estimation and provide information which may … reunification. A policy that separates learning from control may induce a persistent upward bias in money growth and inflation, just …

by prior knowledge in a manner consistent with information effects rather than priming. Support for salary increases is …To study whether current spending levels and public knowledge of them contribute to transatlantic differences in policy … education spending and teacher salaries falls when respondents receive information about existing levels. Treatment effects vary …