We solve a rational expectations model of price formation with nominal rigidity and information frictions analytically … to study how dispersed information impacts inflation and inflation expectations, without imposing strong structural … dispersed information in generating inflation inertia and predictable average nowcast and forecast errors. The estimated effect …

-quantity pairs in each period. The quality of the product is initially unknown, and more information is generated through … experimentation. The amount of information in the market is increasing in the total quantity sold in each period, and the firm can … control the information flow to the market by adjusting the level of sales. We derive the optimal menu as a function of …

most productive firms in the market. With multiple countries, information spillovers drive sourcing location choices …

Learning or experience curves are widely used to estimate cost functions in manufacturing modeling. They have recently … shows that there is a fundamental statistical identification problem in trying to separate learning from exogenous … technological change and that the estimated learning coefficient will generally be biased upwards. Second, we present two empirical …

In this paper, I present an empirical model of learning under ambiguity in the context of clinical trials. Patients are … concern with learning the treatment effect of the experimental drug, but face the ambiguity of random group assignment. A two … dimensional Bayesian model of learning is proposed to capture patients' beliefs on the treatment effect and group assignment …

child’s ability. The model infers that, with enough time spent learning, information can improve parents’ welfare. This can … learning model. The first section develops a dynamic model combining asset accumulation and learning to explain the parents … investigates college saving behavior when learning is present. Data suggest pessimistic and/or rich parents might reduce the level …

We examine the effects of estimation risk and Bayesian learning on equilibrium asset prices when there is uncertainty … (or non-pessimistic) priors, and (5) finite posterior moments. Learning does not produce a monotonically declining equity …