informed to uninformed firms, moderates asymmetric incentives in information acquisition and renders the aggregate learning … outcome approximately acyclical. Our results challenge the prevailing view of procyclical learning as the source of asymmetric … business cycles. -- information choice ; rational expectations ; asymmetric information ; Bayesian learning ; strategic …

-maker. We derive the researcher's equilibrium learning strategy by solving an auxiliary single-player problem. The attribute … excessive response to new information, she forgoes learning altogether. In an organizational context, we show that a manager …

subsidy to labour and a simultaneous tax on entrepreneurs to curb excessive entry, with learning a subsidy-only policy can be …-increasing faster learning. …

(2010). My model allows for an analysis of the effects of firm learning on labor market efficiency in the presence of search … frictions. I find that firm learning increases relative expected earnings in high-ability jobs and, thereby, enhances imitation … priori. Numerical results show that firm learning does not increase labor market efficiency. …

. -- Asymmetric Information ; Adverse Selection ; Learning ; Health Insurance …

This paper experimentally investigates social learning in a two-agent prediction game with both exogenous and …. We find that more efficient observational learning leads to more accurate predictions in the endogenous treatments and … strength. Simultaneous decisions in endogenous ordering avoid observational learning and compensate the higher degree of …

technologies display learning effects and agents’ rate of learning is private knowledge. In a simple two-period model with full … commitment available to the principal, we show that whether learning effects are over- or under-exploited crucially depends on … whether learning effects increase or decrease the principal’s uncertainty about agents’ costs of production. Hence, what …