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(e.g., a vaccine) to incentivize agents to experiment with the product. Assuming that the agents are long-lived and … forward-looking, their incentive to wait and see other agents' experiences poses a significant obstacle to social learning. We …
Persistent link: https://www.econbiz.de/10015047806
The paper analyzes a dynamic model of rational strategic learning in a network. It complements existing literature by … that in the design of networks there exists a trade-off between the speed of learning and accuracy. For an incomplete …
Persistent link: https://www.econbiz.de/10014131724
learning might take place. The current paper extends this previous work. Using an experiment in which subjects play four games … without feedback, the experiment allows a stronger test of "no-feedback learning" as well as a better understanding of the … learning transfers to new games. Current theories of learning model learning as adjustment in behavior in response to feedback …
Persistent link: https://www.econbiz.de/10014087372
This paper experimentally investigates social learning in a two-agent prediction game with both exogenous and …. We find that more efficient observational learning leads to more accurate predictions in the endogenous treatments and … strength. Simultaneous decisions in endogenous ordering avoid observational learning and compensate the higher degree of …
Persistent link: https://www.econbiz.de/10009779323
We build a model studying the effect of an economy's potential for social learning on the adoption of innovations of … qualitative and quantitative features of the learning environment affect equilibrium adoption dynamics, welfare, and the speed of … learning. Based on this, we show how differences in the learning environment translate into observable differences in adoption …
Persistent link: https://www.econbiz.de/10015135353
We theoretically and experimentally study voter behavior in a setting characterized by plurality rule and mandatory voting, where voters choose from three options. We are interested in the occurrence of strategic voting in an environment where Condorcet cycles may occur. In particular, we focus...
Persistent link: https://www.econbiz.de/10011383055
Persistent link: https://www.econbiz.de/10012589720
not know about the information acquisition) or public (the opponent knows about the information acquisition) learning. We … show that a situation, when one player learns the type of the opponent privately while the opponent abstains from learning … cannot be an equilibrium. Yet, there exists an equilibrium, when one player engages in public learning and the other refrains …
Persistent link: https://www.econbiz.de/10014215268
model features both private learning about the market condition and market competition, which give rise to the first …
Persistent link: https://www.econbiz.de/10012908804
model features both private learning about the market condition and market competition, which give rise to the first …
Persistent link: https://www.econbiz.de/10011921916