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Harry Di Pei (Northwestern University) – “Reputation Building with Endogenous Speed of Learning”
November 6, 12:15 am - 1:30 pm
CREST Microeconomics Seminar :
Time: 12:15 pm – 1:30pm
Date: 6th Nov. 2019
Place: Room 3001.
Harry Di Pei (Northwestern University) – Reputation Building with Endogenous Speed of Learning
Abstract: “I study reputation models where each short-run player observes a (possibly stochastic) bounded subset of the long-run player’s previous period actions, in addition to the entire history of her predecessors’ actions. Reputation effects fail because the speed of learning decreases endogenously with the long-run player’s patience. When each short-run player can also observe an informative signal about the long-run player’s current period action, I propose a resistent to learning condition under which reputation effects fail. This is because the short-run player’s action can be uninformative about the long-run player’s type in periods where the latter receives a low stage-game payoff. When the environment is not resistent to learning, the patient long-run player can secure his commitment payoff in all equilibria. I explain the differences between my resistent to learning condition and the bounded informativeness condition in observational learning models.”
Roxana Fernandez Machado (CREST), Marie Laure Allain (CREST), and Linda Schilling (CREST)
food provided, no registration needed