Recently, I published a letter in the Wall Street Journal (Armstrong 2004a) with the basic message that business school education has been losing effectiveness. Most important, students are not learning to do things, such as making an effective oral presentation, writing a persuasive management...

Despite the lead article^Rs title ^SValidity Concerns and Usefulness of Student Ratings of Instruction^T (Greenwald 1997) in the American Psychologist^R^Rs special section on teacher ratings, the papers did not provide direct evidence on ^Susefulness.^T There is no evidence that the use of...

This experiment was designed to test various learning theories in the context of a Cournot oligopoly. We derive theoretical predictions for the learning theories and test these predictions by varying the information given to subjects. The results show that some subjects imitate successful...

We examined the relationships between the research originating at business schools, students^R satisfaction with the schools, and the published ratings of the school^Rs prestige. Research was positively correlated to prestige (where prestige was based on the perceptions of academics, firms, and...

This paper provides a survey of recent theories of herding behaviour, bridging two rather distants strands of literature (roughly, American and European). In the first part of the paper the explanation is based on the idea of asymmetric information and principal-agent approach; these could lead...

In this paper, we examine the incentives for central bank activism and caution in a two-country open-economy model with uncertainty and learning. We find that the presence of a strategic interaction between the home and foreign central banks creates an additional motivation for caution in...

In this paper we analyse disinflation policy in two environments. In the first, the central bank has perfect knowledge, in the sense that it understands and observes the process by which private sector inflation expectations are generated; in the second, the central bank has to learn the private...