We study how learning affects an uninformed monopolist's supply and investment decisions under multiplicative … the random demand. Observing prices reveals this information slowly. We first show how to incorporate Bayesian learning … of learning on supply and investment decisions, as well as the steady state level of capital. Our findings are as follows …

We examine the effects of parameter uncertainty and Bayesian learning on equilibrium asset prices when all the … equity premium. Learning does not produce a monotonically declining equity premium and shocks to growth rates can induce …

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

of this effect with memory, the speed of learning, and the nature of the forecasting rules …

Observational learning is typically examined when agents have precise information about their position in the sequence … individuals and receive a private signal about the state of the world. We show that social learning is robust to position … uncertainty. Under any sampling rule satisfying a stationarity assumption, learning is complete if signal strength is unbounded …

I develop an adaptive learning model to study the welfare effects of Social Security policy uncertainty in an aging … could occur) with limited knowledge about the structure of the economy. The adaptive learning amplifies cyclical dynamics …) ranges between -0.29% and 0.21% of lifetime consumption in the adaptive learning model compared to -0.012% to -0.018% in the …

We provide identification results for a broad class of learning models in which continuous outcomes depend on three … estimator exhibits good finite-sample properties. Finally, we illustrate our approach with an application to ability learning in … the context of occupational choice. Our results point to substantial ability learning based on realized wages. …