Networks and the embedded relationships are critical determinants of how people communicate and form beliefs. The explosion of social media has significantly increased the scope and impact of social learning among consumers. This paper studies observational learning in networks of friends versus...

Learning models extend the traditional discrete choice framework by postulating that consumers have incomplete information about product attributes, and that they learn about these attributes over time. In this survey we describe the literature on learning models that has developed over the past...

An important concern is that algorithms can inadvertently discriminate against minority groups and reinforce existing inequality. Typically, the worry is that when classification algorithms are trained on a dataset that itself reflects bias this may reinforce bias. However, in the world of...

It is widely accepted that a key driver of a firm's international growth is its knowledge on how to compete in foreign markets. Many firms, however, have attained substantial growth in foreign markets even though they have had little prior direct experience in those markets. Based crucially on...

We propose a structural model of correlated learning with indirect inference to explain late-mover advantages. Our model focuses on a class of products with the following two features: (i) products which build on a common fundamental technology (e.g., computer processor, car, smartphone, etc.);...

Multi-part tariffs are widely favored within service industries as an efficient means of mapping prices to differential levels of consumer demand. Whether they benefit consumers, however, is far less clear as they pose individuals with a potentially difficult task of dynamically allocating usage...