This paper studies optimal experimentation by a monopolist who faces an unknown demand curve subject to random changes, and who maximises profits over an infinite horizon in continuous time. We show that there are two qualitatively very different regimes, determined by the discount rate and the...

To fully understand and support learners in MOOCs we need a way of detecting and differentiating distinct learner profiles (reflecting motivations, goals, preferences for course elements and online behaviours) - particularly given the “crowd like” nature of these settings. This paper...

Models with heterogeneous interacting agents explain macro phenomena through interactions at the micro level. We propose genetic algorithms as a model for individual expectations to explain aggregate market phenomena. The model explains all stylized facts observed in aggregate price fluctuations...

The analysis in this paper searches for individual and group determinants of learning behavior in Monty Hall's Three Door problem examined in Friedman (1998). The results show that the size of monetary incentives, individuals' initial abilities, and social interactions with others are all...

This paper investigates belief learning. Unlike other investigators who have been forced to use observable proxies to approximate unobserved beliefs, we have, using a belief elicitation procedure (proper scoring rule), elicited subject beliefs directly. As a result we were able to perform a more...