competition ; resource allocation …

update their beliefs about the probability of being audited, both before and after audits are definitely withdrawn. We find … that when individuals have initially experienced systematic audits, they decrease both their beliefs and their … irregular, they maintain high beliefs about the probability of being audited and continue cooperating long after audits have …

Expectations play a central role in modern macroeconomics. The econometric learning approach, in line with the … equilibria. Further features of learning – such as discounting of older data, use of misspecified models or heterogeneous choice … by agents between competing models – generate novel learning dynamics. Empirical applications are reviewed and the roles …

that are locally stable under least squares learning provided agents use a common factor representation for their estimated … learning than previously recognized …