The paper investigates social-learning when the information structure is not commonly known. Individuals repeatedly … interact in social-learning settings with distinct information structures. In each round of interaction, they use their … behavior in the long-run if and only if individuals distinguish social-learning settings and receive rich feedback after each …

This paper provides a formal characterization of the process of rational learning in social networks. Agents receive … rational learning leads to global consensus, local indifference and local disagreement are characterized. In the general … setting considered, rational learning can lead to pairs of neighbors selecting different actions once learning ends, while not …

money. Agents' learning evolves from private experiences and we explore how the formation of prices interacts with learning …. We show that multiple equilibria arise, and equilibria with price dispersion entail more learning than equilibria with …