Convergence in models of misspecified learning
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DOI: 10.3982/te3558
Abstract: We establish convergence of beliefs and actions in a class of one-dimensional learning settings in which the agent’s model is misspecified, she chooses actions endogenously, and the actions affect how she misinterprets information. Our stochastic-approximation-based… read more here.
Keywords: models misspecified; misspecified learning; convergence; model ... See more keywords