Department of Economics

Faculty of Arts and Social Sciences

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2013 Asia Summer Institute in Behavioral Economics
Asian Meeting of the Econometric Society 2013
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Department Seminar

Topic:                              

Learning what matters


Speaker:
Manuel Mueller-Frank
University of Navarra

Date: August 05, Tuesday
Time: 4:00 - 5:30 pm

Venue:

Lim Tay Boh Seminar Room (AS2 03-12)
National University of Singapore
1 Arts Link, Singapore 117570

Chair:

Chen Yi-Chun

Abstract:

This paper considers a strict sequential learning model with a compact metrizable state and action space, thus capturing rich environments which have not been analyzed so far. We study both the case where the utility function is common to all decision makers and the more general case where the utility function of each agent is a private iid draw from the space of continuous utility functions. Each agent can only identify whether or not the utility function of any given predecessor is close to his own or not. We provide a general definition of unbounded signals and establish asymptotic learning as a general equilibrium property of sequential social learning if private signals are unbounded

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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