Showing 1 - 10 of 15,114
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
by the strength of a private learning channel from prices, arising from the multidimensional sources of asymmetric … information, in relation to the usual public learning channel. When the private learning channel is strong (weak) in relation to …
Persistent link: https://www.econbiz.de/10003994517
different learning models. The design is implemented in two-stage asymmetric-information games. Subjects' information …-seeking behavior reveals that they tend to choose certain information sets that are consistent with belief-based learning theories … rather than reinforcement theories. A hybrid-learning model with information acquisition that is a variant of the Generalized …
Persistent link: https://www.econbiz.de/10012938179
This paper studies a game of strategic experimentation with two-armed bandits whose risky arm might yield a payoff only after some exponentially distributed random time. Because of free-riding, there is an inefficiently low level of experimentation in any equilibrium where the players use...
Persistent link: https://www.econbiz.de/10010440933
In a financial market where agents trade for short-term profit and where news can increase the uncertainty of the public belief, there are strategic complementarities in the acquisition of private information and, if the cost of information is sufficiently small, a continuum of equilibrium...
Persistent link: https://www.econbiz.de/10011702278
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 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
collective learning. The present paper provides a summary of this research. …
Persistent link: https://www.econbiz.de/10014025688
accuracy is conducive to unstable best-response dynamics. We define the barrier to learning as the minimum level of noise which … the role of strategy restrictions in reducing or amplifying barriers to learning …
Persistent link: https://www.econbiz.de/10014344184
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