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Passive Learning: A Critique by Example.

Abstract:

In models of learning by experimentation that exhibit signal dependence, a benchmark using a passive learner has been proposed. The use of this benchmark is flawed--first, passive learning does not disentangle the effects of knowing that beliefs, as well as other state variables, might change, and we address this issue directly by introducing a naive learner. Secondly, and more tellingly, passive learning does not do what it is suppo...

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Publication status:
Published
Peer review status:
Peer reviewed
Version:
Accepted Manuscript

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Publisher copy:
10.1007/s00199-006-0140-4

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Institution:
University of Oxford
Role:
Author
Publisher:
Springer-Verlag Publisher's website
Journal:
Economic Theory Journal website
Volume:
33
Issue:
2
Publication date:
2007-11-05
DOI:
URN:
uuid:624c62b8-e430-4bd8-a6f5-800575de7831
Local pid:
oai:economics.ouls.ox.ac.uk:12586
Language:
English

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