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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
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...
Persistent link: https://www.econbiz.de/10012928769
, since the very first economic models of the government, it was assumed that the level of knowledge of society, represented …, has always considered sets of individuals with assumed characteristics, namely the level of knowledge, although in an … implicit way in most of the cases. In this sense, an influential approach in Economics assumed that society, as a global set of …
Persistent link: https://www.econbiz.de/10011502970
This work, which shall contribute to the Fest "A Just Society: Honouring Joseph Stiglitz", discusses a major unifying …
Persistent link: https://www.econbiz.de/10011458677
explain and the stocks of knowledge available in a society, be it individually or collectively. I find that the aggregate … number of knowledge units in a society increases more slowly, the more naive its inhabitants are. I also find that the …In this paper I propose a novel abstract mechanism for the creation and diffusion of knowledge and use an agent based …
Persistent link: https://www.econbiz.de/10012591877
become approximate common-knowledge. In contrast, if the agents' observations come from a countably infinite signal space …
Persistent link: https://www.econbiz.de/10012776664
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