Bayesian learning with catastrophe risk : information externalities in a large economy
Based on a previous study by Amador and Weill (2009), I study the diffusion of dispersed private information in a large economy subject to a ”catastrophe risk” state. I assume that agents learn from the actions of oth- ers through two channels: a public channel, that represents learning from prices,...
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| Format: | Others |
| Language: | English |
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2011
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| Online Access: | http://hdl.handle.net/2152/ETD-UT-2011-08-3868 |