This chapter provides a survey of the recent work on learning in the context of macroeconomics. Learning has several … roles. First, it provides a boundedly rational model of how rational expectations can be achieved. Secondly, learning acts … as a selection device in models with multiple REE (rational expectations equilibria). Third, the learning dynamics …

where both risky arms are of the same type, we find that learning will be complete in any Markov perfect equilibrium if the …

endogenously influence whether learning occurs through its policy choices (policy experimentation), future political competition …

The paper investigates social-learning when the information structure is not commonly known. Individuals repeatedly … interact in social-learning settings with distinct information structures. In each round of interaction, they use their … behavior in the long-run if and only if individuals distinguish social-learning settings and receive rich feedback after each …

always exists an equilibrium exhibiting efficient long-run patterns of learning. These results extend to a three-player game …