DIMENSIONALITY AND DISAGREEMENT: ASYMPTOTIC BELIEF DIVERGENCE IN RESPONSE TO COMMON INFORMATION
We provide a model of boundedly rational, multidimensional learning and characterize when beliefs will converge to the truth. Agents maintain beliefs as marginal probabilities instead of joint probabilities, and agents' information is of lower dimension than the model. As a result, for some obs...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Blackwell Publishing Inc.
2019
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| Online Access: | View Fulltext in Publisher |