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disagreement regardless of cognitive ability. Learning about the state of the world has little effect on the evolution of perceived …
Persistent link: https://www.econbiz.de/10014477417
disagreement regardless of cognitive ability. Learning about the state of the world has little effect on the evolution of perceived …
Persistent link: https://www.econbiz.de/10014263425
In this paper, we discuss learning behavior and the heterogeneity of subjects' ability to perform in real-effort tasks …. Afterwards, we present a novel variant of Erkal et al.'s (2011) encryption real-effort task which aims to minimize learning …-randomization mechanism to minimize learning and heterogeneity. Existing experiments with repeated real-effort tasks find a performance …
Persistent link: https://www.econbiz.de/10011807098
We examine the effectiveness of different learning modes in a process management context. We argue that many … organizations will undergo a transformation from a function to a process orientation and that learning matters in this context, as a … significant influence of learning modes on the general success of learning process-oriented thinking. We observe that learning …
Persistent link: https://www.econbiz.de/10013074507
and they cannot observe other agents' actions or payoffs. Theory shows that even when players have no such information …, simple payoff-based learning rules eventually lead to equilibrium. Such rules have previously been documented for some forms … laboratory setting and finds strong confirmation for key features of payoff-based learning that distinguish it from classical …
Persistent link: https://www.econbiz.de/10013014874
We study market dynamics when an owner learns over time about the quality of her asset. Since this information is private, the owner sells strategically to a less informed buyer following sufficient negative information. In response, market prices feature a "U-shape" relative to the length of...
Persistent link: https://www.econbiz.de/10012903225
Retailers may face uncertainty about the profitability of local markets, which provide opportunities for learning when … retail entry with uncertainty and learning (from others). Using novel data about fast food chains, I estimate the model with … firm beliefs about market profitability. The estimates confirm the presence of uncertainty and learning. Most importantly …
Persistent link: https://www.econbiz.de/10012905791
We propose a model of learning when experimentation is possible, but unawareness and ambiguity matter. In this model …
Persistent link: https://www.econbiz.de/10012928769
In standard models of rational learning from experience, prior uncertainties and disagreements recede smoothly as …, uncertainties will surge and core disagreements widen. In general, rational learning tends to bifurcate into calm and turbulent …
Persistent link: https://www.econbiz.de/10013215320
learning is excessive, and a deadline on adopting the project is socially optimal in a wide range of settings …
Persistent link: https://www.econbiz.de/10013238586