paper shows that, contrary to predictions in the literature that we can resolve uncertainty very quickly, the time to learn … may be on the order of thousands of years when uncertainty surrounds two parameters in the law of motion for temperature …

damages influence the choice of taxes or quotas. Much of the literature concerning uncertainty and learning about damages from … stock externalities such as climate change assumes that the uncertainty will eventually be resolved. These papers focus on … uncertainty, ignoring the possible impact of the regulator's optimal decisions on the learning process. Passive learning is …

investigate how the incentive for experimentation varies with the extent of parameter uncertainty regarding the short-run slope of …

In standard models of Bayesian learning agents reduce their uncertainty about an eventÂ’s true probability because …