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Learning from private and public observations of othersʼ actions
Amador, Manuel; Weill, Pierre-Olivier - In: Journal of Economic Theory 147 (2012) 3, pp. 910-940
We study the diffusion of dispersed private information in a large economy, where agents learn from the actions of others through two channels: a public channel, such as equilibrium market prices, and a private channel, for example local interactions. We show that, when agents learn only from...
Persistent link: https://www.econbiz.de/10011042970
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Costly information and the evolution of self-organization in a small, complex economy
Wilson, James; Hill, J.; Kersula, M.; Wilson, C.L.; … - In: Journal of Economic Behavior & Organization 90 (2013) S, pp. 76-76
The core idea of evolution is that order in living systems emerges from a simple process of variation and selection. In biological systems we usually understand the source of variation as best described by the mechanisms of genetics. If human social systems are evolutionary systems, however, it...
Persistent link: https://www.econbiz.de/10010678983
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Communication and Learning
Anderlini, Luca; Gerardi, Dino; Lagunoff, Roger - Cowles Foundation for Research in Economics, Yale University - 2008
We study the intergenerational accumulation of knowledge in an infinite-horizon model of communication. Each in a sequence of players receives an informative but imperfect signal of the once-and-for-all realization of an unobserved state. The state affects all players' preferences over present...
Persistent link: https://www.econbiz.de/10005593160
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Communication and Learning
Lagunoff, Roger; Gerardi, Dino; Anderlini, Luca - Georgetown University, Department of Economics - 2008
We study the intergenerational accumulation of knowledge in an infinite-horizon model of communication. Each in a sequence of players receives an informative but imperfect signal of the once-and-for-all realization of an unobserved state. The state affects all players' preferences over present...
Persistent link: https://www.econbiz.de/10005169616
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Communication and Learning
Anderlini, Luca; Gerardi, Dino; Lagunoff, Roger - Collegio Carlo Alberto, Università degli Studi di Torino - 2008
We study strategic information transmission in an organization consisting of an infinite sequence of individual decision makers. Each decision maker chooses an action and receives an informative but imperfect signal of the once-and-for-all realization of an unobserved state. The state affects...
Persistent link: https://www.econbiz.de/10005013922
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Bayesian social learning, conformity, and stubbornness : evidence from the AP Top 25
Stone, Daniel F.; Zafar, Basit - 2010
The recent nonexperimental literature on social learning focuses on showing that observational learning exists, that is, individuals do indeed draw inferences by observing the actions of others. We take this literature a step further by analyzing whether individuals are Bayesian social learners....
Persistent link: https://www.econbiz.de/10008657261
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Learning Through International Acquisitions : The Process of Knowledge Acquisition in China
Zou, Huan - 2016
● Research on the process of knowledge learning and absorption in acquisition context has emerged recently. Yet relatively less attention has been paid to the process of knowledge transfer and learning and its impact on successful acquisitions.● This paper adopts a process perspective' to...
Persistent link: https://www.econbiz.de/10012982344
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Learning and innovation in youth-owned small businesses
Adeosun, Oluyemi Theophilus; Shittu, Ayodele Ibrahim - In: Rajagiri management journal 15 (2021) 1, pp. 69-87
Purpose - The birth and survival rate of youth-owned businesses has been a major concern for policymakers, industry and academics alike. Learning and innovation play important roles and more critical is the mediating factors and how it impacts the enterprise competitiveness of youth-owned...
Persistent link: https://www.econbiz.de/10012588669
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Social Learning with Costly Search
Mueller-Frank, Manuel; Pai, Mallesh - 2014
We study a sequential social learning model where agents privately acquire information by costly search. Search costs … if and only if search costs are not bounded away from zero. We explicitly characterize the speed of learning for the case … rate. Social welfare converges to the social optimum as the discount rate converges to one if and only if search costs are …
Persistent link: https://www.econbiz.de/10014164380
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Asymmetric Information and Learning : Evidence from the Automobile Insurance Market
Cohen, Alma - 2005
This paper tests the predictions of adverse selection models using data from the automobile insurance market. I find that, in contrast to what recent research has suggested, the evidence is consistent with the presence of informational asymmetries in this market: new customers choosing higher...
Persistent link: https://www.econbiz.de/10014123311