We present a model of social learning in an environment with common values where informational cascades and herding …

This paper analyzes the effect of the availability of information about the payoff structure on the behavior of players … in a Common-Pool Resource game. Six groups of six individuals played a complete information game, while other six groups … played the same game but with no information about the payoff function. It will be shown that the patterns of investment …

learning processes exhibited by players. …

congestion. Subjects receive feedback information on the actual travel times of both modes. We find that individuals exhibit a …

This paper considers using Hayek's theory of knowledge as a theoretical framework for interpreting consumer learning … neural nets. Moreover, the link detectable between Hayek's approach to learning and Simon's approach to bounded rationality …

Knowledge management ca be seen as the pragmatic evolution of ideas in the field of organizational learning. Its main …

We explore the constrained efficient observational learning model - as when individuals care about successors, or are …

A canonical model of Bayesian learning is presented in which the interaction of the observation of discrete activities … aggregate activity may occur, (iii) sudden jumps of economic activity take place in the learning process. …