Limit Points of Endogenous Misspecified Learning
We study how an agent learns from endogenous data when their prior belief is misspecified. We show that only uniform Berk-Nash equilibria can be long‐run outcomes, and that all uniformly strict Berk-Nash equilibria have an arbitrarily high probability of being the long‐run outcome for some initial b...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
The Econometric Society,
2022-02-14T18:40:57Z.
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| Subjects: | |
| Online Access: | Get fulltext |