We analyze a game theoretic model of social learning about a consumption good with endogenous timing and heterogeneous …

We develop a dynamic model of opinion formation in social networks when the information required for learning a payoff … though the neighbors’ views may be quite inaccurate). This non-Bayesian learning rule is motivated by the formidable …

Traditional macroeconomic learning algorithms are misspecified when all agents are learning simultaneously. In this … paper, we produce a number of learning algorithms that do not share this failing, and show that this enables them to learn … almost any solution, for any parameters, implying learning cannot be used for equilibrium selection. As a by-product, we are …

We analyze a social learning model where the agents' utility depends not only on an unknown common component but also … on an unknown idiosyncratic component. Each agent splits a learning budget between the two components. We characterize … the optimal learning decisions and find necessary and sufficient conditions for complete learning. As agents learn from …

, improvements in decision quality cease. A literature on word-of-mouth learning shows how observation of outcomes as well as actions … the cascades/herding literature. In a setting which adds 'conversational' learning about both the payoff outcomes of …

Adaptive learning introduces persistence in the evolution of agents’ beliefs over time. For applied purposes this is a … convenient feature to help explain why economies present sluggish adjustments towards equilibrium. The pace of learning is … document renewed empirical calibrations of plausible gain values for adaptive learning applications to macroeconomic data. We …

We analyze a dynamic principal-agent problem with moral hazard and private learning. Each period the agent faces a …

This paper experimentally investigates the nature of impulses in impulse learning. Particularly, we analyze whether …

Learning models extend the traditional discrete choice framework by postulating that consumers have incomplete … literature on learning models that has developed over the past 20 years, using the model of Erdem and Keane (1996) as a unifying … framework. We described how subsequent work has extended their modeling framework, and applied learning models to a wide range …