Duffie, Darrell; Malamud, Semyon; Manso, Gustavo - In: Journal of Economic Theory 145 (2010) 4, pp. 1574-1601
We calculate learning rates when agents are informed through public and private observation of other agents' actions. We characterize the evolution of the distribution of posterior beliefs. If the private learning channel is present, convergence of the distribution of beliefs to the...