Научный семинар МИЭФ и ЛФЭ, Daniel Hauser (Aalto University)
Докладчик: Daniel Hauser (Aalto University)
Тема доклада: "Social Learning with Model Misspecification: A Framework and a Robustness Result" совместно с J. Aislinn Bohren
Тезисы доклада: We explore how model misspecification affects long-run learning in a sequential social learning setting. An agent's type specifies her model of the world. Misspecified types have incorrect beliefs about the signal distribution, how other agents draw inference and/or others' preferences. Our main result is a simple criterion to characterize long-run learning outcomes that is straightforward to derive from primitives. Depending on the nature of the misspecification, we show that learning may be correct, incorrect or beliefs may not converge. We establish that the correctly specified model is robust -- agents with approximately correct models