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• W50888947 abstract "We study social learning by boundedly rational agents. Agents take a decision in sequence, after observing their predecessors and a private signal. They are unable to understand their predecessors’ decisions in their finest details: they only understand the relation between the aggregate distribution of actions and the state of nature. We show that, in a continuous action space, compared to the rational case, agents put more weight on early signals. Despite this behavioral bias, beliefs converge to the truth. In a discrete action space, instead, convergence to the truth does not occur even if agents receive signals of unbounded precisions." @default.
• W50888947 created "2016-06-24" @default.
• W50888947 creator A5008087835 @default.
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• W50888947 date "2009-07-01" @default.
• W50888947 modified "2023-09-27" @default.
• W50888947 title "Social Leanring with Course Inference" @default.
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• W50888947 hasPublicationYear "2009" @default.
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