We study market dynamics when an owner learns over time about the quality of her asset. Since this information is …

research has not examined whether individual differences in insular sensitivity predict learning to avoid aversive stimuli. In … that in addition to correlating with self-reported anxiety, heightened insular sensitivity may promote learning to avoid …

In standard models of rational learning from experience, prior uncertainties and disagreements recede smoothly as … learners need to sift random noise for signs that the trend has changed. When the evidence is sufficiently confusing …, uncertainties will surge and core disagreements widen. In general, rational learning tends to bifurcate into calm and turbulent …

trade, but their effectiveness crucially depends on the speed of learning. …

We study relational contracts in a firm-worker relationship with mutual uncertainty about match quality. The worker …'s actions are publicly observed and generate output, and hence information about the match quality. Despite the absence of … private information, uncertainty about match quality creates a holdup problem causing inefficiencies in relational contracts …

We analyze a dynamic principal-agent problem with moral hazard and private learning. Each period the agent faces a …

We analyze a social learning model where the agents' utility depends not only on an unknown common component but also … on an unknown idiosyncratic component. Each agent splits a learning budget between the two components. We characterize … the optimal learning decisions and find necessary and sufficient conditions for complete learning. As agents learn from …

This paper studies sequential social learning when people learn about others' actions through coarse signals. Agents … learning occurs, i.e., agents eventually learn the truth and take the correct actions. A necessary condition for adequate … learning is that the state-signals can induce unbounded private likelihoods. When private likelihoods are unbounded, adequate …