effect of asymmetric information and learning on the equilibrium outcomes. More uninformed buyers increases the price …

asymmetric information and learning from current prices. In such models, traders are asymmetrically informed about the …

This paper incorporates learning and reputation building into a simple dynamic stochastic model with asymmetric … information. We use the model to study a bilateral trade flow influenced significantly by learning and reputation, namely U … 1981–1984. Since learning and reputation building require time, predicted short run trade patterns can be quite different …

government, information about its value is imperfect, and learning is decentralized. We show that monetary stability depends …

This paper demonstrates that a misspecified model of information processing interferes with long-run learning and … to learn the true state. I consider a social learning environment where agents draw inference from private signals … efficient learning. Prior actions aggregate multiple sources of information; agents face an inferential challenge to distinguish …