cues and redundancy). An analysis of learning studies reveals that the most effective form of feedback is information about …

This paper investigates the role of learning by private agents and the central bank (two-sided learning) in a New … these beliefs through a statistical learning algorithm as new information becomes available. We study the short-run dynamics … demonstrate that two-sided learning can generate substantial increases in volatility and persistence, and alter the behavior of …

used by both systems as well as the characteristics of environments that facilitate or hinder accurate learning by the …

We formulate an evolutionary learning process in the spirit of Young (1993a) for games of incomplete information. The … double auction. For both games selection by evolutionary learning is in favor of Bayesian equilibria where some types of …

-response and reinforcement learning but not under fictitious play. The simulations perform well under flat and upward …-slopping supply bidding, and also for plausible demand elasticity assumptions. Learning is influenced by the number of bids per plant …

We study the statistical properties of three estimation methods for a model of learning that is often fitted to …

We incorporate the process of enforcement learning by assuming that the agency's current marginal cost is a decreasing … enforcement learning on optimal stationary compliance rules. In particular, we show that the optimal stationary fine could be less …