We address the issue of risk aversion in a competitive equilibrium when some buyers engage in learning and information … risk aversion on the equilibrium outcomes of the model, including the amount of information released by the market. We show … that risk aversion has an effect on the market outcomes but not on the flow of information. In particular, an increase in …

experience levels due to imperfect information. We believe this represents a significant reinterpretation of the empirical …

information about worker ability as the incumbent firm. I develop a model of asymmetric learning that nests the symmetric learning … find strong support for asymmetric information.I first exploit the fact that groups of workers differ in their variances in … interest in my model representing the degree to which information is asymmetric. My estimates imply that in one period, outside …

agents to coordinate on it through this learning scheme in the absence of substantive rationality and perfect information …

information about worker ability as the incumbent firm. I develop a model of asymmetric learning that nests the symmetric learning … find strong support for asymmetric information. I first exploit the fact that groups of workers differ in their variances … interest in my model representing the degree to which information is asymmetric. My estimates imply that in one period, outside …

experience levels due to imperfect information. We believe this represents a significant reinterpretation of the empirical …