Showing 151 - 160 of 17,198
to analyze the social learning mechanism and its effect on the seller's pricing decision. This analysis borrows from the … literature on social learning and on pricing and revenue management. Consumers follow a naive decision rule and, under some … conditions, eventually learn the product's quality. Using mean-field approximation, the dynamics of this learning process are …
Persistent link: https://www.econbiz.de/10010905450
learning based on level-k reasoning.  We find a systematic positive relationship between cognitive ability and levels … ability to that of character skills, and find that both cognition and personality affect behavior and learning.  More …
Persistent link: https://www.econbiz.de/10011004460
social interactions, and on behavioral foundations of learning and innovation." …
Persistent link: https://www.econbiz.de/10010928084
equilibrium, retains equilibrium expectations but adds stochastic response (of which players are aware). Learning theories explain …) or foregone payoffs (model-directed learning). Finally, many studies reject the joint hypothesis of equilibrium …
Persistent link: https://www.econbiz.de/10011255423
different cognitive abilities learn differently, we estimate a structural model of learning based on level-k reasoning. We find …
Persistent link: https://www.econbiz.de/10011259076
This paper investigates opinion dynamics and social in uence in directed communication networks. We study the theoretical properties of a boundedly rational model of opinion formation in which individuals aggregate the information they receive from their neighbors by using weights that are a...
Persistent link: https://www.econbiz.de/10011265894
We explore the modelling of the determination of the level of R&D investment of firms. This means that we do not tackle the decision of being an innovator or not, nor the adoption of a new technology. We exclude these decisions and focus on the situations where firms invest in internal R&D in...
Persistent link: https://www.econbiz.de/10005385227
This article aims to test the relevance of learning through Genetic Algorithms, in opposition with fixed R&D rules, in … simulations clearly show that learning is a source of technological and social efficiency as well as a mean for market domination. …
Persistent link: https://www.econbiz.de/10005385268
We study how the use of judgement or “add-factors” in macroeconomic forecasting may disturb the set of equilibrium outcomes when agents learn using recursive methods. We isolate conditions under which new phenomena, which we call exuberance equilibria, can exist in standard macroeconomic...
Persistent link: https://www.econbiz.de/10005079099
This paper examines the learning dynamics of boundedly rational agents, who are asked to contribute to a discrete … confirmed by simulations, where the learning process is modeled by an Evolutionary Algorithm. We show that the contribution game …
Persistent link: https://www.econbiz.de/10005022103