Showing 1 - 10 of 5,843
We propose a model of learning when experimentation is possible, but unawareness and ambiguity matter. In this model …, complete lack of information regarding the underlying data generating process is expressed as a (maximal) family of priors …. These priors yield posterior inferences that become more precise as more information becomes available. As information …
Persistent link: https://www.econbiz.de/10012928769
theme in Joe Stiglitz monumental work, namely, the analysis of economies characterised by persistent learning and … major themes, namely, the consequences of learning and dynamic increasing returns, and "Keynesian" coordination failures …
Persistent link: https://www.econbiz.de/10011458677
children. Spillovers to neighboring (untreated) mothers can be through social learning or imitation. Results from a difference …-in-differences analysis show that nutritional knowledge measured through a quiz increases among neighboring untreated mothers relative to a … control group. Neighboring mothers exhibit learning spillovers, changes in dietary behavior and a reduction in food …
Persistent link: https://www.econbiz.de/10012985678
Attention is a pivotal resource in the modern economy and plays an increasingly prominent role in economic analysis. We summarize research on attention from both psychology and economics, placing a particular emphasis on its capacity to explain numerous documented violations of classical...
Persistent link: https://www.econbiz.de/10014383940
correlation across players. For each information structure, we define a simple learning efficiency index, which only considers the …We study settings in which, prior to playing an incomplete information game, players observe many draws of private … signals about the state from some information structure. Signals are i.i.d. across draws, but may display arbitrary …
Persistent link: https://www.econbiz.de/10013215438
This paper analyzes the effect of the availability of information about the payoff structure on the behavior of players … in a Common-Pool Resource game. Six groups of six individuals played a complete information game, while other six groups … played the same game but with no information about the payoff function. It will be shown that the patterns of investment …
Persistent link: https://www.econbiz.de/10011538855
learning processes exhibited by players. …
Persistent link: https://www.econbiz.de/10011539831
' beliefs are subject to information friction and Bayesian learning. … high socioeconomic status (SES). We examine the effect of combining increased instruction time with information to teachers …
Persistent link: https://www.econbiz.de/10012063035
Previous research has shown that feedback about past performance has ambiguous effects on subsequent performance. We argue that feedback affects beliefs in different dimensions – namely beliefs about the level of human capital and beliefs about the ability to learn – and this may explain...
Persistent link: https://www.econbiz.de/10012926724
rationality behaviour by people. Quite recent developments in the Economics of Knowledge, i.e. the so-called learning models, have …, has always considered sets of individuals with assumed characteristics, namely the level of knowledge, although in an … individuals, was characterised by a certain level of knowledge that, indeed, could be associated with the one of its …
Persistent link: https://www.econbiz.de/10011502970