learning, choosing among a set of alternative forecasting models. The analysis is accompanied by empirical evidence on the …

and non-Bayesian models of social learning and focus on the implications of the form of learning (e.g., Bayesian vs. non … individuals are situated on three key questions: (1) whether social learning will lead to consensus, i.e., to agreement among … individuals starting with different views; (2) whether social learning will effectively aggregate dispersed information and thus …

-updated beliefs instead of their priors. Our proposed mistake predicts when individuals over- or underreact to new information …

demand. The former learning effect, combined with the latter real-options effect, adversely affect firms' entry decisions and …

agents employ the same recursive learning rule to update beliefs but are characterized by different memory parameters. The … peculiarity of the learning mechanism is that the learning rate is not vanishing in the limit. Differently from what is obtained … in the case of a vanishing learning step, i.e., the stability conditions in the heterogeneous agents case are those of …

policy rules: the assumed manner of expectations formation. Following a considerable literature on learning, it is assumed … econometric model to make inferences about future uncertainty. Agents do not know other agents' tastes or beliefs and therefore do … learning dynamics converge to the equilibrium predicted by rational expectations equilibrium analysis. This question is …

This paper studies the effect of social learning on political outcomes in a model of informative campaign advertising … information, on voters' learning about candidates running for office, and on the polarization of the electoral outcome. In … erroneous beliefs about the characteristics of the candidates running for office. In turn, a richer communication network among …

learning is excessive, and a deadline on adopting the project is socially optimal in a wide range of settings …