-level uncertainty and imperfect information over their life cycle. We find that firms make non-negligible and positively correlated … demand. The former learning effect, combined with the latter real-options effect, adversely affect firms' entry decisions and …

available information, and given expectations, agents solve optimization problems and these solutions in turn determine actual …

(Learning-to-Forecast experiments) or individual trading (Learning-to-Optimize experiments). Bao et al. (2018) have shown that …

We compare forecasts from different adaptive learning algorithms and calibrations applied to US real-time data on …

(Learning-to-Forecast experiments) or individual trading (Learning-to-Optimize experiments). Bao et al. (2017) have shown that …

We explore the consequence of learning to forecast in a very simple environment. Agents have bounded memory and … incorrectly believe that there is nonlinear structure underlying the aggregate time series dynamics. Under social learning with … variable learning equilibrium as well as a weaker long run consistency condition …