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Regular version of the site

ICEF/FES Research Seminar by Annie Liang (University of Pennsylvania)

Event ended
On Friday, December 21 at 1.40 pm, room 3211 (Shabolovka str. 26) ICEF and FES will hold the Research Seminar.
Speaker: Annie Liang (University of Pennsylvania)
Theme: "Complementary Information and Learning Traps" joint with Xiaosheng Mu

Venue: Shabolovka st., 26, room 3211

Abstract: We develop a model of social learning from complementary information: Short-lived agents sequentially choose from a large set of (flexibly correlated) information sources for prediction of an unknown state, and information is passed down across periods. Will the community collectively acquire the best kinds of information? Long-run outcomes fall into one of two cases: (1) efficient information aggregation, where the community eventually learns as fast as possible; (2) "learning traps," where the community gets stuck observing suboptimal sources and information aggregation is inefficient. Our main results identify a simple property of the underlying informational complementarities that determines which occurs. In both regimes, we characterize which sources are observed in the long run and how often.

Everyone interested is welcome to attend!

Pass can be ordered by:
tel. (495)772-95-90*26090
e-mail: vzheleznov@hse.ru
contact: Zheleznov Slava 

ICEF seminars