We study a two-player dynamic investment model with information externalities and provide necessary and sufficient conditions for a unique switching equilibrium. When the public information is sufficiently high and a social planer therefore expects an investment boom, investments should be...

We study a two-player dynamic investment model with information externalities and provide necessary and sufficient conditions for a unique switching equilibrium. Within this setup, we ask whether policymakers should interfere when better informed agents make individual investment decisions. We...

This paper extends the classic two-armed bandit problem to a many-agent setting in which I players each face the same experimentation problem. The main change from the single- agent problem is that an agent can now learn from the current experimentation of other agents. Information is therefore...

We study a two-player dynamic investment model with information externalities and provide necessary and sufficient conditions for a unique switching equilibrium. Within this setup, we ask whether policymakers should interfere when better informed agents make individual investment decisions. We...

This paper provides evidence for informational spillovers within urban slums in Chandigarh, India. I identify three groups, a treatment group, a neighboring spillover group, and a non-adjacent pure control group. Mothers of children (aged 3-6 years) enrolled in government day-care centers are...

Interdependencies in consumer behavior stem from either status-seeking consumption or compliance with social norms. This paper analyzes how a consumption act changes from a means to signal the consumer's status to a means of norm compliance. It is shown that such a transformation can only be...

We develop a model of social learning from complementary information: Short-lived agents sequentially choose from a large set of flexibly correlated information sources for prediction of an unknown state, and information is passed down across periods. Will the community collectively acquire the...

This paper develops an identification strategy to generate unbiased estimates of Internet usage spillovers using a unique data set of US households. I identify multiple potential sources of learning including those from the household's locality, from educational Internet subsidies, and from...