This paper applies a social learning model to the optimal consumption rule of Allen & Carroll (2001), and delivers … results in the literature, both in terms of speed of convergence and parsimony of the learning model. The learning model … exhibits several appealing features: it is frugal, easy to apply to a range of learning objectives, requires few procedures and …

are in the dark about what others are doing and how their own payo s are a ected. This paper analyzes learning behavior in … identify two key features of the players' learning dynamics. First, if a player's realized payoff increases he is less inclined …

stability under learning whenever agents try to estimate both the law of motion of the state variable and the stationary state …

dynamics, and its local stability in dynamics arising from econometric learning procedures. Attention is focused on linear … in the perfect foresight dynamics on the levels of the state variable, and its stability under learning. The paper … stability under learning provided that a simple sign condition is satisfied. …

their income - the higher the risk aversion, the more stable the cooperatives and the lower the segregation. Learning can … high or low-risk, and while they are learning, they tend to create cooperatives that can last. Eventually we worked on the …

private agents are gradually learning their uncertain environment. When agents update their beliefs about the parameters that … under adaptive learning are significantly larger than under rational expectations. In our benchmark case calibrated using US … data on leverage, debt-to-GDP and land value-to-GDP ratios for 1996Q1-2008Q4, learning amplifies leverage shocks by a …

endogenously influence whether learning occurs through its policy choices (policy experimentation), future political competition …

This paper aims to analyze learning as a two-type process. A dynamic equilibrium process represents a stable learning … process, that may express an individualistic behavioral learning or an organizational adaptation. A teleological process … represents an intentional, goal-oriented, learning process. This second type of learning can express an individualistic cognitive …

This paper focuses on the link between the economic conceptions of rationality and learning. Traditionally, most … economists believe that learning is just a way for agents to become fully rational. But being fully rational cannot describe a … is not the process of learning, but the result of learning: ‘a fully rational agent'. Heterodox rationality conceptions …