Syndication, which is a joint realization of one project/one investment by several capital providers, is a long …

We test the out-of-sample trading performance of model-free reinforcement learning (RL) agents and compare them with …

markets. Taking into account different learning mechanisms within the investor population, we characterize the optimal timing … learning by investors may induce producers to increase wasteful obfuscation, further disorienting investors and decreasing …

experience-based learning and sketch a simple model of its role in the stock market based on Malmendier et al. (2020a,b). I then … distill the empirical findings on experience effects in stock-market investment, trade dynamics, and international capital …