I present a model of social learning over an exogenous, directed network that may be readily nested within broader …

. The evidence supports the predictions of our model, most notably that investor learning about manager ability weakens when … to the resultant sluggish learning process …

This paper proposes a behavioral model of social learning that unies various forms of inferential reasoning in one … present evidence from three sources that these are the prevalent types of reasoning in social learning: a review of social … learning studies, existing data from Celen and Kariv (2004) as well as new experimental data that includes written accounts of …

We designed four observational learning experiments to identify the key channels that, along with Bayes … observational learning accounts for the phenomenon of excessive herding, it captures well herd behavior with medium quality signals …

equilibrium prices and portfolios are obtained in closed form. Learning from option prices is characterized explicitly in terms of …

Information-based reinforcement learning is effective for trading and price discovery in limit order markets. It helps …-run momentum of the informed market orders. The learning increases liquidity supply of uninformed and liquidity consumption of … price discovery. The results shed a light into the market practice of using machine learning in limit order markets …

This paper studies how acquisition of non-fundamental information (learning about noise) affects financial markets. We … heterogeneous quality and who optimally allocate learning capacity between fundamentals and noise. We demonstrate that learning … (imprecise) compared to their prior non-fundamental information learn only about fundamentals (noise) and ii) learning about …

subsidy to labour and a simultaneous tax on entrepreneurs to curb excessive entry, with learning a subsidy-only policy can be …-increasing faster learning. …

, improvements in decision quality cease. A literature on word-of-mouth learning shows how observation of outcomes as well as actions … the cascades/herding literature. In a setting which adds 'conversational' learning about both the payoff outcomes of …