. The results show that reinforcement learning leads to dynamics similar to those observed in standard public goods games … explained by reinforcement learning. According to our estimates, learning only accounts for 41 percent of the decay in …, differ strongly from the learning dynamics, while a learning model estimated from the limited information treatment tracks …

positive levels of search costs. Considering an explicit learning scheme the paper shows that convergence of prices to …

Saddlepath learning occurs when agents know the form but not the coefficients of the sad?dlepath relationship defining … rational expectations equilibrium. Under saddlepath learning, we obtain a completely general relationship between determinacy … system is determinate, we show that a learning process based on the saddlepath is always e-stable. When the system is …

We present a decision theoretic framework in which agents are learning about market behavior and that provides … microfoundations for models of adaptive learning. Agents are 'internally rational', i.e., maximize discounted expected utility under … discounted sum of dividends. As a result, learning about price behavior affects market outcomes, while learning about the …

the existing literature, which typically focuses on the learning of private agents during a disinflation.  We build a …

beliefs about price and dividend behavior to deviate slightly from rational expectations priors. Learning about stock price … system of beliefs and other model features. We depart from previous studies of asset prices under learning in that agents …

We introduce learning into a Hotelling model of a non-renewable resource market. Bycombining learning and scarcity we … add signi?cantly to the dynamics implied by learning and substantially enhance the volatility of commodity prices. In our … learning model we show how a self con?rming equilibrium exists but is not constant over time. As scarcity increases the SCE …

We test if confusion and learning could potentially explain all the decay of contributions in the repeated public goods … decline is more than twice as high in a standard public goods game. Furthermore, we find that simple learning cannot generate … cooperative behavior observed in public goods games is not a pure artefact of confusion and learning. …

Saddlepath learning occurs when agents learn adaptively using a perceived law of motion that has the same form as the … saddlepath relationship in rational expectations equilibrium.  Under saddlepath learning, we obtain a completely general … information.  When the system is determinate, we show that a learning process based on the saddlepath is always e-stable.  When …