observe that (i) all the relevant information in the learning dynamics is encoded in the input decisions; (ii) firms are able …Consider a multi-sector general equilibrium model where firms have incomplete information about the returns to scale of … their production and where that information is sequentially updated once real production is observed. What is the impact of …

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 …

theory of melioration is to exclusively play A, while the Nash equilibrium is to almost exclusively play B. The predictive … learning processes exhibited by players. …

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 …

In this paper I propose a novel abstract mechanism for the creation and diffusion of knowledge and use an agent based … 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 …

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 …

limitation: agents cannot deal with all relevant information and use biased decisional shortcuts. The stream of research on … Ecological rationality, yet, evidences the possible advantage of using a limited amount of information. The present paper takes a … Bateson. Learning requires to recognize a series of situations as identical and then to observe the effect of given variables …