Two-Sided Learning and the Ratchet Principle

DOI10.1093/RESTUD/RDX019zbMath1405.91059OpenAlexW2603607909MaRDI QIDQ4610882

Gonzalo Cisternas

Publication date: 23 January 2019

Published in: The Review of Economic Studies (Search for Journal in Brave)

Full work available at URL: https://hdl.handle.net/1721.1/122362

zbMATH Keywords

learningBrownian motionratchet effectprivate beliefs

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Rationality and learning in game theory (91A26)

Related Items (5)

The curse of long horizons ⋮ The ratchet effect: a learning perspective ⋮ Renegotiation and dynamic inconsistency: contracting with non-exponential discounting ⋮ Persistence in a dynamic moral hazard game ⋮ Reputation and earnings dynamics

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