Research provides some observations about learning from events that appear to be rare or quite unusual. All learning … has uncertain consequences, but learning from rare events is especially problematic. Learners see many idiosyncrasies and … exogenous interference, tendencies that suppress learning on an organizational scale. Rare events also rouse uncertainty and …

competing approaches used in the literature. Besides taking learning into account, it does not rely on any conditioning …

Observational learning is typically examined when agents have precise information about their position in the sequence … individuals and receive a private signal about the state of the world. We show that social learning is robust to position … uncertainty. Under any sampling rule satisfying a stationarity assumption, learning is complete if signal strength is unbounded …

bank decisions using the temporal difference reinforcement learning algorithm based on banks' lending preferences and …

In an investment-based asset pricing model, we build a collective-learning framework in which decision-makers learn a … target firm's exposure to systematic risk from its peers' observations. This learning mechanism endogenously creates a time … empirical evidence that the posterior estimate of systematic-risk exposure from collective learning, rather than from individual …