investigate this claim using a simple model of Bayesian learning. Two individuals with different priors observe the same infinite … implications for economic behavior in a range of circumstances. We illustrate how the type of learning outlined in this paper …

infinite-horizon learning, and subjective expectations with Euler-equation learning. Under rational expectations, the model … necessitates of large, possibly unrealistically so, degrees of myopia. The same result persists under infinite-horizon learning …, given that agents are still remarkably far-sighted. But, under Euler-equation learning, the model can fit the data with only …

-Media Learning literature, which aims to find ways to maximize subject understanding from instruction. After the pre-experiment … Multi-Media Learning Instructions nor an Incentivized pre-experiment quiz were found to increase subject understanding of …This paper examines the influence of pre-experiment tasks on subject understanding. It used a 2x2 design varying the …

investigate this claim using a simple model of Bayesian learning. Two individuals with different priors observe the same infinite … behavior in a range of circumstances. We illustrate how the type of learning outlined in this paper interacts with economic …

We designed four observational learning experiments to identify the key channels that, along with Bayes …-rational inferences, drive herd behavior. In Experiment 1, unobserved, whose actions remain private, learn from the public actions made in … observational learning accounts for the phenomenon of excessive herding, it captures well herd behavior with medium quality signals …