of life, but learn in a Bayesian way with successive income observations. We find that learning is very slow and affects …

the significant growth of survivors. At the core of our theory is the interaction of adjustment costs with learning by … differences across sectors. For a finite learning horizon version of the model, with positive dispersion in entry size, we …

properties of the discrete model validation dynamics converge to those of the continuous learning dynamics. This sheds new light … on the recent constant-gain learning literature. …

This paper develops and structurally estimates a learning model in which firms acquire information about workers … jobs and firms. Because of the trade--off between learning and short--run profit maximization, a firm's optimal job … learning model can succeed in fitting the dynamic pattern of separations, promotions and demotions, and individual wage …

This paper investigates a learning model in which information about a worker's ability, unobserved to both the worker … requires. We then examine the strategic effects of the dynamics of learning on a worker's career profile. We prove that price …