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ECONIS (ZBW)
7,020
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31
Business Cycle Fluctuations and the Life Cycle : How Important is On-The-Job Skill Accumulation?
Hansen, Gary D.
-
2007
We study the effects of on-the-job skill accumulation on average hours worked by age and the volatility of hours over the life cycle in a calibrated general equilibrium model. Two forms of skill accumulation are considered: learning by doing and on-the-job training. In our economy with learning...
Persistent link: https://www.econbiz.de/10012465043
Saved in:
32
Beliefs, Doubts and Learning : Valuing Economic Risk
Hansen, Lars Peter
-
2007
decision
theory
to characterize when learning or discriminating among competing probability models is challenging. I also use … choice
theory
under uncertainty to explore the ramifications of model uncertainty and learning in environments in which …
Persistent link: https://www.econbiz.de/10012465708
Saved in:
33
Generalized Stochastic Gradient Learning
Evans, George W.
-
2005
We study the properties of generalized stochastic gradient (GSG) learning in forward-looking models. We examine how the conditions for stability of standard stochastic gradient (SG) learning both differ from and are related to E-stability, which governs stability under least squares learning. SG...
Persistent link: https://www.econbiz.de/10012466981
Saved in:
34
Simple Forecasts and Paradigm Shifts
Hong, Harrison
-
2003
done better over the same period. This
theory
makes several distinctive predictions, which, for concreteness, we develop in … a stock-market setting. For example, starting with symmetric and homoskedastic fundamentals, the
theory
yields …
Persistent link: https://www.econbiz.de/10012468685
Saved in:
35
Imperfect Knowledge, Inflation Expectations, and Monetary Policy
Orphanides, Athanasios
-
2003
This paper investigates the role that imperfect knowledge about the structure of the economy plays in the formation of expectations, macroeconomic dynamics, and the efficient formulation of monetary policy. Economic agents rely on an adaptive learning technology to form expectations and to...
Persistent link: https://www.econbiz.de/10012468813
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36
Entry Deterrence in Hospital Procedure Markets : A Simple Model of Learning-By-Doing
Dafny, Leemore S.
-
2003
This paper examines the strategic behavior of hospitals in one of their primary output markets: inpatient surgical procedures. High levels of learning-by-doing in surgical fields may act as a barrier to entry. I investigate whether incumbent hospitals facing prospective entry in a procedure...
Persistent link: https://www.econbiz.de/10012468826
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37
Enriching a
Theory
of Wage and Promotion Dynamics Inside Firms
Gibbons, Robert
-
2003
In previous work we showed that a model that integrates job assignment, human-capital acquisition, and learning can explain several empirical findings concerning wage and promotion dynamics inside firms. In this paper we extend that model in two ways. First, we incorporate schooling into the...
Persistent link: https://www.econbiz.de/10012468848
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38
Moore's Law and Learning-By-Doing
Jovanovic, Boyan
-
2002
We model Moore's Law as efficiency of computer producers that rises as a by-product of their experience. We find that (1) Because computer prices fall much faster than the prices of electricity-driven and diesel-driven capital ever did, growth in the coming decades should be very fast, and that...
Persistent link: https://www.econbiz.de/10012469953
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39
Does Market Experience Eliminate Market Anomalies? The Case of Exogenous Market Experience
List, John A.
-
2011
A vibrant literature has emerged that suggests willingness to pay and willingness to accept measures of value are quite different for inexperienced consumers but that value differences erode with market experience. One potential shortcoming of this literature is that market experience is...
Persistent link: https://www.econbiz.de/10012461749
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40
Learning by Doing with Asymmetric Information : Evidence from Prosper.com
Freedman, Seth M.
-
2011
Using peer-to-peer (P2P) lending as an example, we show that learning by doing plays an important role in alleviating the information asymmetry between market players. Although the P2P platform (Prosper.com) discloses part of borrowers' credit histories, lenders face serious information problems...
Persistent link: https://www.econbiz.de/10012461803
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