Showing 1 - 10 of 2,239
collective learning. The present paper provides a summary of this research. …
Persistent link: https://www.econbiz.de/10014025688
We study learning by privately informed forward-looking agents in a simple repeated-action setting of social learning …
Persistent link: https://www.econbiz.de/10014263855
learning transfers to new games. Current theories of learning model learning as adjustment in behavior in response to feedback … about outcomes and payoffs and largely ignore the possibility that learning may take place in the absence of such feedback … feedback between plays of the game. However, this previous work demonstrates this "no-feedback" learning using a special game …
Persistent link: https://www.econbiz.de/10014087372
, simple payoff-based learning rules eventually lead to equilibrium. Such rules have previously been documented for some forms … laboratory setting and finds strong confirmation for key features of payoff-based learning that distinguish it from classical …
Persistent link: https://www.econbiz.de/10013014874
We study market dynamics when an owner learns over time about the quality of her asset. Since this information is private, the owner sells strategically to a less informed buyer following sufficient negative information. In response, market prices feature a "U-shape" relative to the length of...
Persistent link: https://www.econbiz.de/10012903225
Retailers may face uncertainty about the profitability of local markets, which provide opportunities for learning when … retail entry with uncertainty and learning (from others). Using novel data about fast food chains, I estimate the model with … firm beliefs about market profitability. The estimates confirm the presence of uncertainty and learning. Most importantly …
Persistent link: https://www.econbiz.de/10012905791
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...
Persistent link: https://www.econbiz.de/10012935641
The paper analyzes a dynamic model of rational strategic learning in a network. It complements existing literature by … links. This means that in the design of networks there exists a trade-off between the speed of learning and accuracy. …
Persistent link: https://www.econbiz.de/10010441988
, the stakes are high enough. Moreover, learning will be complete in any Markov perfect equilibrium with continuous value …
Persistent link: https://www.econbiz.de/10014192846
The paper analyzes a dynamic model of rational strategic learning in a network. It complements existing literature by … that in the design of networks there exists a trade-off between the speed of learning and accuracy. For an incomplete …
Persistent link: https://www.econbiz.de/10014131724