Learning under unawareness

B-Tier
Journal: Economic Theory
Year: 2022
Volume: 74
Issue: 2
Pages: 447-475

Authors (3)

Simon Grant (Australian National University) Idione Meneghel (not in RePEc) Rabee Tourky (not in RePEc)

Score contribution per author:

0.670 = (α=2.01 / 3 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

Abstract We propose a model of learning when experimentation is possible, but unawareness and ambiguity matter. In this model, complete lack of information regarding the underlying data generating process is expressed as a (maximal) family of priors. These priors yield posterior inferences that become more precise as more information becomes available. As information accumulates, however, the individual’s level of awareness as encoded in the state space may expand. Such newly learned states are initially seen as ambiguous, but as evidence accumulates there is a gradual reduction of ambiguity.

Technical Details

RePEc Handle
repec:spr:joecth:v:74:y:2022:i:2:d:10.1007_s00199-021-01408-y
Journal Field
Theory
Author Count
3
Added to Database
2026-01-25