We study learning and information acquisition by a Bayesian agent whose prior belief is misspecified in the sense that it assigns probability 0 to the true state of the world. At each instant, the agent takes an action and observes the corresponding payoff, which is the sum of a fixed but...

We study learning and information acquisition by a Bayesian agent whose prior belief is misspecified in the sense that it assigns probability 0 to the true state of the world. At each instant, the agent takes an action and observes the corresponding payoff, which is the sum of a fixed but...

Pesticides, while rendering immense agricultural benefits, potentially entail risks to human health and the environment. To limit these risks, market approval of a pesticide is typically conditional on an extensive risk assessment demonstrating its safety. The associated testing procedures,...

Having highlighted the importance of designing assessments for university economics students that link technical material with practical applications, the paper outlines three such assessments that have been successfully applied with postgraduate and third year undergraduate-level students. The...

Having highlighted the importance of designing assessments for university economics students that link technical material with practical applications, the paper outlines three such assessments that have been successfully applied with postgraduate and third year undergraduate-level students. The...

Pestizide ermöglichen der Landwirtschaft gesteigerte Erträge, sie bergen jedoch auch Risiken für die menschliche Gesundheit und die Umwelt. Um diese Risiken zu begrenzen, müssen sie in einem Risikobewertungsverfahren ihre Sicherheit nachweisen, bevor sie zugelassen werden können. Die...