Recent research on learning by doing has provided the limit properties of beliefs and actions for a class of learning problems, in which experimentation is an important aspect of optimal decision making. However, under these conditions the optimal policy cannot be derived analytically, because Bayes
Learning-by-doing, population pressure, and the theory of demographic transition
β Scribed by Holger Strulik
- Publisher
- Springer
- Year
- 1997
- Tongue
- English
- Weight
- 185 KB
- Volume
- 10
- Category
- Article
- ISSN
- 0933-1433
No coin nor oath required. For personal study only.
π SIMILAR VOLUMES
## Abstract We construct and estimate by maximum likelihood a job search model where wages are set by Nash bargaining and idiosyncratic productivity follows a geometric Brownian motion. The proposed framework enables us to endogenize job destruction and to estimate the rate of learningβbyβdoing. Al
## Abstract This paper argues that the demographic transition has been central to the creation of the modern world, and that its role in this respect has generally been underestimated. The paper proposes a partial, causal theory β operating at the βsuperβmacroβ level, and over the very long run β f