and non-Bayesian models of social learning and focus on the implications of the form of learning (e.g., Bayesian vs. non … individuals are situated on three key questions: (1) whether social learning will lead to consensus, i.e., to agreement among … individuals starting with different views; (2) whether social learning will effectively aggregate dispersed information and thus …

We develop a model of social learning from complementary information: Short-lived agents sequentially choose from a … cases: (1) efficient information aggregation, where the community eventually learns as fast as possible; (2) "learning traps …

of this effect with memory, the speed of learning, and the nature of the forecasting rules …

Observational learning is typically examined when agents have precise information about their position in the sequence … individuals and receive a private signal about the state of the world. We show that social learning is robust to position … uncertainty. Under any sampling rule satisfying a stationarity assumption, learning is complete if signal strength is unbounded …

We incorporate joint learning about state and parameter into a consumption-based asset pricing model with rare … amount of uncertainty and slows learning. Once the two types of uncertainty are both priced in asset prices, their joint …

product quality. We show that the learning process is successful as long as the price is not prohibitive and therefore at … pricing policy exists. If putting one item on the market involves a constant cost, then under this optimal policy, learning …

, and showed that it gives a lower bound on the time it takes for a certain natural best-reply or learning process operating …

This paper examines the role of agent heterogeneity and learning on wage and employment dynamics. In the first half of … from the US Census Bureau. The mixed effect specifications generalize the earlier work of AKM and others. The learning … earnings residuals are consistent with Bayesian learning, and to estimate structural parameters of the matching model. I find …

We use a broad sample of students to provide insight into the course selection process. Consistent with a learning … better use of the information available to them. We also find evidence for a social learning process in that students rely … heavily on advice from peers in selecting courses. Finally, students appear to be learning how to learn: As they gain college …

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 …