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Everyday econometricians : selection neglect and overoptimism when learning from others

Barron, Kai; Huck, Steffen; Jehiel, Philippe - 2019

There are many important decision problems where learning through experimentation is costly or impossible. In these situations, individuals may try to learn from observing the outcomes of others who have made similar decisions. Often, however, information about others comprises a selected...

Persistent link: https://www.econbiz.de/10011982107

Finite depth of reasoning and equilibrium play in games with incomplete information

Kets, Willemien - 2013

The standard framework for analyzing games with incomplete information models players as if they have an infinite depth of reasoning, which is not always consistent with experimental evidence. This paper generalizes the type spaces of Harsanyi (1967-1968) so that players can have a finite depth...

Persistent link: https://www.econbiz.de/10009782099

Agent-based computational economics in management accounting research : opportunities and difficulties

Wall, Friederike; Leitner, Stephan - In: Journal of management accounting research : JMAR 33 (2021) 3, pp. 189-212

Persistent link: https://www.econbiz.de/10012793285

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

You Can Lead a Horse to Water : Spatial Learning and Path Dependence in Consumer Search

Hodgson, Charles; Lewis, Gregory - National Bureau of Economic Research - 2023

We develop and estimate a model of consumer search with spatial learning. Consumers make inferences from previously … searched objects to unsearched objects that are nearby in attribute space, generating path dependence in search sequences. The … estimated model rationalizes patterns in data on online consumer search paths: search tends to converge to the chosen product in …

Persistent link: https://www.econbiz.de/10014372454

Toward a Behavioral Theory of Real Options : Noisy Signals, Bias, and Learning

Posen, Hart E. - 2020

We develop a behavioral theory of real options that relaxes the informational and behavioral assumptions underlying applications of financial options theory to real assets. To do so, we augment real option theory's focus on uncertain future asset values (prospective uncertainty) with feedback...

Persistent link: https://www.econbiz.de/10012856401

A Theory of Subjective Learning

Dillenberger, David - 2012

We study an individual who faces a dynamic decision problem in which the process of information arrival is unobserved by the analyst. We derive two utility representations of preferences over menus of acts that capture the individual's uncertainty about his future beliefs. The most general...

Persistent link: https://www.econbiz.de/10013101281

Endogenous Learning in Input-Output Economies

Nasini, Stefano; Nessah, Rabia - 2021

Consider a multi-sector general equilibrium model where firms have incomplete information about the returns to scale of their production and where that information is sequentially updated once real production is observed. What is the impact of this learning dynamics on the market-wise...

Persistent link: https://www.econbiz.de/10013323833

Learning and innovation in informal settings : the case of automobile workshops in Lagos metropolitan area

Shittu, Ayodele Ibrahim; Adeosun, Oluyemi Theophilus - In: African journal of science, technology, innovation and … 14 (2022) 7, pp. 1848-1863

Persistent link: https://www.econbiz.de/10013455038

Learning Efficiency of Multi-Agent Information Structures

Frick, Mira; Iijima, Ryota; Ishii, Yuhta - 2021

We study settings in which, prior to playing an incomplete information game, players observe many draws of private signals about the state from some information structure. Signals are i.i.d. across draws, but may display arbitrary correlation across players. For each information structure, we...

Persistent link: https://www.econbiz.de/10013215438

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