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

We analyze a dynamic principal-agent problem with moral hazard and private learning. Each period the agent faces a …

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 …

The recent nonexperimental literature on social learning focuses on showing that observational learning exists, that is … “stubborn.” -- Belief ; Bayesian updating ; social learning ; conformity ; herding ; peers …

We study to what extent information aggregation in social learning environments is robust to slight misperceptions of … the agents' learning environment …

We exhibit a natural environment, social learning among heterogeneous agents, where even slight misperceptions can have … a large negative impact on long-run learning outcomes. We consider a population of agents who obtain information about … information aggregation can be improved by simplifying agents’ learning environment. The key feature behind our findings is that …