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Dynamic Optimization in Two-Party Models

McKibbin, Warwick J.; Roubini, Nouriel; Sachs, Jeffrey - 2021

The goal of this paper is to study the problem of optimal dynamic policy formulation with competing political parties. We study a general class of problems, in which the two competing political parties have quadratic intertemporal objective functions, and in which the economy has a linear...

Persistent link: https://www.econbiz.de/10013218965

Smolyak Method for Solving Dynamic Economic Models : Lagrange Interpolation, Anisotropic Grid and Adaptive Domain

Judd, Kenneth L. - 2013

First, we propose a more efficient implementation of the Smolyak method for interpolation, namely, we show how to avoid costly evaluations of repeated basis functions in the conventional Smolyak formula. Second, we extend the Smolyak method to include anisotropic constructions; this allows us to...

Persistent link: https://www.econbiz.de/10013077561

Signaling, Shame, and Silence in Social Learning

Chandrasekhar, Arun G. - 2018

We examine how a social stigma of seeking information can inhibit learning. Consider a Seeker of uncertain ability who …

Persistent link: https://www.econbiz.de/10012909127

Peer Effects in the Classroom : Learning from Gender and Race Variation

Hoxby, Caroline M. - 2021

Peer effects are potentially important for understanding the optimal organization of schools, jobs, and neighborhoods, but finding evidence is difficult because people are selected into peer groups based, in part, on their unobservable characteristics. I identify the effects of peers whom a...

Persistent link: https://www.econbiz.de/10013221083

Learning and Asset-Price Jumps

Bansal, Ravi; Shaliastovich, Ivan - 2021

triggers large asset-price jumps. We show that the learning choice is critically determined by preference parameters and the …

Persistent link: https://www.econbiz.de/10013221105

Obfuscation, Learning, and the Evolution of Investor Sophistication

Carlin, Bruce Ian; Manso, Gustavo - 2021

different learning mechanisms within the investor population, we characterize the optimal timing of obfuscation for financial … participation in the market. We show that educational initiatives that are directed to facilitate learning by investors may induce …

Persistent link: https://www.econbiz.de/10013228646

Sequential or Simultaneous Elections? A Welfare Analysis

Hummel, Patrick - 2012

voting and social learning, we illustrate that sequential elections place too much weight on the preferences and information …

Persistent link: https://www.econbiz.de/10013106663

Can Learnability Save New-Keynesian Models?

Cochrane, John H. - 2010

Bennett McCallum (2009), applying Evans and Honkapohja's (2001) results, argues that "learnability" can save New-Keynesian models from their indeterminacies. He claims the unique bounded equilibrium is learnable, and the explosive equilibria are not. However, he assumes that agents can directly...

Persistent link: https://www.econbiz.de/10013150432

Learning Millennial-Style

Carlin, Bruce Ian - 2014

The growing use of on-line educational content and related video services has changed the way people access education, share knowledge, and possibly make life decisions. In this paper, we characterize how video content affects individual decision-making and willingness to share in the context of...

Persistent link: https://www.econbiz.de/10013051293

Social Learning and Communication

Benyishay, Ariel - 2014

networks are recognized as the most credible source of information about new technologies. We incorporate social learning in … communicator influences learning and adoption. Farmers find communicators who face agricultural conditions and constraints most … comparable to themselves to be the most persuasive. Incorporating communication dynamics can take the influential social learning …

Persistent link: https://www.econbiz.de/10013053835