Showing 131 - 140 of 722,032
This paper studies sequential information acquisition by an ambiguity-averse decision maker (DM), who decides how long to collect information before taking an irreversible action. The agent optimizes against the worst-case belief and updates prior by prior. We show that the consideration of...
Persistent link: https://www.econbiz.de/10013365655
Social learning often occurs between groups with different levels of experience. Yet little is known about the ideal … novices learning from experienced, a particular form of probabilistic imitation is selected. Novices should imitate any …
Persistent link: https://www.econbiz.de/10013368210
We consider social learning in a changing world. With changing states, societies can remain responsive only if agents … regularly act upon fresh information, which drastically limits the value of observational learning. When the state is close to …
Persistent link: https://www.econbiz.de/10013307752
Despite widespread use in online transactions, rating systems only provide summary statistics of buyers' diverse opinions at best. To investigate the consequences of this coarse form of information aggregation, we consider a dynamic lemons market in which buyers share their evaluations...
Persistent link: https://www.econbiz.de/10014345170
We analyze a game theoretic model of social learning about a consumption good with endogenous timing and heterogeneous …
Persistent link: https://www.econbiz.de/10014191123
exposure or experience can cause learning and hence better detection of deception. We investigate using data culled from events … individual from within a group all claiming to be that individual. Our sample showed evidence of learning, suggesting that …
Persistent link: https://www.econbiz.de/10014517089
This paper introduces a model of boundedly rational observational learning, which is rationally founded and applicable …
Persistent link: https://www.econbiz.de/10013027986
the 1-way flow model but fails largely in the 2-way flow model. We observe a strong learning dynamic in the 1-way flow …
Persistent link: https://www.econbiz.de/10013320016
Our study analyzes theories of learning for strategic interactions in networks. Participants played two of the 2 x 2 …
Persistent link: https://www.econbiz.de/10013098736
spectral graph theory and show that the consensus among agents is not always a sign of successful learning. In particular, the … presence of stubborn agents in the network and produces long-run effects on the agents learning process. The distortion induced … by stubborn agents in social learning depends on the “updating centrality”, a novel centrality measure that identifies …
Persistent link: https://www.econbiz.de/10012890347