We examine the effects of parameter uncertainty and Bayesian learning on equilibrium asset prices when all the … equity premium. Learning does not produce a monotonically declining equity premium and shocks to growth rates can induce …

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

We study the effect of learning with heterogeneous beliefs on the exploitation of a renewable common-pool resource. To … that end, we extend the Great Fish War model of Levhari and Mirman (1980) to a learning environment in which several agents … anticipation of learning with heterogeneous beliefs is twofold. First, the anticipation of learning makes future payoffs more …

. We find that the firm encourages social learning for a greater range of beliefs and has greater expected revenue when it …

learning schemes can be compared in terms of the consumption behaviour that they yield. We show that neither purely adaptive … learning, nor social learning based on imitation can ensure satisfactory consumption behaviours. By contrast, if the agents can … terms of its regularity, and its ability to improve performance (which is as a clear manifestation of learning). Our results …

the views of their neighbors (even though the neighbors' views may be quite inaccurate). This non-Bayesian learning rule …

Information-based reinforcement learning is effective for trading and price discovery in limit order markets. It helps …-run momentum of the informed market orders. The learning increases liquidity supply of uninformed and liquidity consumption of … price discovery. The results shed a light into the market practice of using machine learning in limit order markets …

This paper presents a model of a rational seller who is actively learning the slope of his demand curve via his pricing … (as observed in the data), which has proved to be a major challenge to most price setting models. The model s learning …

In this paper, we examine how learning about disaster risk affects asset pricing in an endowment economy. We extend the …

We study social learning in a social network setting where agents receive independent noisy signals about the truth …