Acemoglu, Daron; Kong, Dingwen; Ozdaglar, Asuman E. - National Bureau of Economic Research - 2026
decisions require combining shared, community-level general knowledge with individual-level, context-specific knowledge; these … about their own context and a "thin" public signal that accumulates into the community's stock of general knowledge … contrast, a richer stock of general knowledge complements human effort by raising its marginal return. The model highlights a …