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rationality behaviour by people. Quite recent developments in the Economics of Knowledge, i.e. the so-called learning models, have …
Persistent link: https://www.econbiz.de/10011502970
Persistent link: https://www.econbiz.de/10010191021
learning process of individuals with different preference types (more and less pro-social) and coarse information regarding the …
Persistent link: https://www.econbiz.de/10011326679
Is it possible to guarantee that the mere exposure of a subject to a belief elicitation task will not affect the very same beliefs that we are trying to elicit? In this paper, we introduce mechanisms that make it simultaneously strictly dominant for the subject (a) not to acquire any information...
Persistent link: https://www.econbiz.de/10012308719
learning process of individuals with different preference types (more and less pro-social) and coarse information regarding the …
Persistent link: https://www.econbiz.de/10013014085
Bateson. Learning requires to recognize a series of situations as identical and then to observe the effect of given variables … hypothesis to be continuously tested. This vision of bounds and learning has many implications for the debate on rationality and …
Persistent link: https://www.econbiz.de/10011523697
In standard models of rational learning from experience, prior uncertainties and disagreements recede smoothly as …, uncertainties will surge and core disagreements widen. In general, rational learning tends to bifurcate into calm and turbulent …
Persistent link: https://www.econbiz.de/10013215320
We present a geometric approach to the finite Rational Inattention (RI) model, recasting it as a convex optimization problem with reduced dimensionality that is well suited to numerical methods. We provide an algorithm that outperforms existing RI computation techniques in terms of both speed...
Persistent link: https://www.econbiz.de/10014496939
Recent theoretical and empirical work characterizes attention as a limited resource that decision-makers strategically allocate. There has been less research on the dynamic interdependence of attention: how paying attention now may affect performance later. In this paper, we exploit...
Persistent link: https://www.econbiz.de/10012549756
Predictions under common knowledge of payoffs may differ from those under arbitrarily, but finitely, many orders of mutual knowledge; Rubinstein's (1989)Email game is a seminal example. Weinstein and Yildiz (2007) showed that the discontinuity in the example generalizes: for all types with...
Persistent link: https://www.econbiz.de/10012159030