... role in maintaining and restoring productivity. Excessive leisure, however, negatively impacts “learning-by-doing” which is necessary for enhancing productivity. This study introduces a novel behavioral model that endogenizes productivity through leisure, formally integrating recovery (recharging one’s...

... in common, particularly in learning and herd behavior. He was a worthy member of the distinguished and pioneering group which included Herb Simon and Reinhard Selten. © 2022 A. Kirman 2022 A. Kirman Licensed re-use rights only “Rationality is the capacity to exercise conscious, systematic...

...Timothy Flannery; Cara Sibert How does the ability to opt out affect learning in sequential games? We design a modified version of the Game of 21 (G21) where players can drop out at any time similar to the centipede game, referred to as C21, to answer this query. Motivating our study with two...

... the resulting distribution is. The following definition precisely describes what I mean by “concentrated” and “dispersed.“ ² Bayesian Updating Cognitive Biases Irrational Expectations Learning Uncertainty C02 D03 D83 The weighted updating model generalizes Bayes’ rule...

... Licensed re-use rights only Bayesian Updating Cognitive Biases Irrational Expectations Learning Uncertainty C02 D03 D83 Addressing climate change is one of the most important challenges of this century. Transitioning to a low-carbon economy requires people to drastically change...

...David Goldbaum A state of perpetually evolving divergent trading strategies is the natural consequence of a market with idiosyncratic private information. In the face of intrinsic uncertainty about other traders’ strategies, participants resort to learning and adaptation to identify and exploit...

... to secede from Somalia but rather“to restore and maintain the unity of Somalia on the basis of a Federal System” (Transitional Constitution of Puntland Regional Government, 2001). Belief Focal point Financial markets Inertia Learning Monetary regime Monetary standard Money Political economy...