Showing 11 - 20 of 784,431
This paper experimentally investigates the nature of impulses in impulse learning. Particularly, we analyze whether …
Persistent link: https://www.econbiz.de/10013085982
Previous research has shown that feedback about past performance has ambiguous effects on subsequent performance. We argue that feedback affects beliefs in different dimensions – namely beliefs about the level of human capital and beliefs about the ability to learn – and this may explain...
Persistent link: https://www.econbiz.de/10012926724
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
This paper experimentally investigates social learning in a two-agent prediction game with both exogenous and …. We find that more efficient observational learning leads to more accurate predictions in the endogenous treatments and … strength. Simultaneous decisions in endogenous ordering avoid observational learning and compensate the higher degree of …
Persistent link: https://www.econbiz.de/10013077364
Bateson. Learning requires to recognize a series of situations as identical and then to observe the effect of given variables … hypothesis to be continuously tested. This vision of bounds and learning has many implications for the debate on rationality and …
Persistent link: https://www.econbiz.de/10011523697
We develop a theoretical framework for studying the effects of interaction on the quaJity of decision-making by monetary policy committees. We show that interaction, i.e. increasing one's expertise through an exchange of views, is most likely not to result in interdependent voting...
Persistent link: https://www.econbiz.de/10011334835
taking an (irreversible) action. We define \textit{asymptotic learning} as the fraction of agents taking the correct action … converging to one as a society grows large. Under truthful communication, we show that asymptotic learning occurs if (and under … ``information hubs'', which receive and distribute a large amount of information. Asymptotic learning therefore requires information …
Persistent link: https://www.econbiz.de/10011684965
pricing. We simulate a self-learning algorithm setting personalized prices based on additional information about consumer …
Persistent link: https://www.econbiz.de/10012546921
independent sampling (observing multiple outgroup members) promotes learning about outgroups more than prolonged interaction with …
Persistent link: https://www.econbiz.de/10015071071
This article describes the value added by a stock-and-flow feedback diagram to text-only instruction in macroeconomics. The experiment was motivated by a prior study in which the use of graphs to teach macroeconomics was no more effective than verbal instruction alone. Here, in contrast,...
Persistent link: https://www.econbiz.de/10014218189