We study investment and consumption decisions in a dynamic game under learning. To that end, we present a model in … assumption of adaptive learning) is generally intractable, we characterize the unique symmetric Bayesian-learning recursive … limits of the equilibrium outcomes for a finite horizon exist. The addition of learning to a stochastic environment is shown …

We embed learning (without experimentation) in optimal growth. We extend the Mirman-Zilcha results of stochastic … optimal growth to the learning case. We use recursive methods to study the effect of learning on the dynamic program by …

We address the issue of risk aversion in a competitive equilibrium when some buyers engage in learning and information … is conveyed through the price system. Specifically, since the learning process yields uncertainty, we study the effect of …

We study learning in perfect competition. A representative price-taking firm sells a good whose quality is unknown to … the price, which, in turn, affects the competitive equilibrium through the learning process of the uninformed buyers. …