The Resource Rational herds : economic models of social learning, Christophe P. Chamley
Rational herds : economic models of social learning, Christophe P. Chamley
- Summary
- This book is the first in the exciting new field of social learning
- Language
- eng
- Extent
- 1 online resource (xiv, 402 pages)
- Contents
-
- 1. Introduction
- Part I. Social learning : 2. Bayesian tools : The bayesian framework ; Binary and Gaussian information ; Private signals and beliefs ; Martingales
- 3. Social learning with a common memory : A canonical model of social learning ; Efficient learning ; Observation noise ; Extensions
- 4. Cascades and herds : The basic model of herding ; The standard model with bounded beliefs ; The convergence of beliefs ; Herds and the slow convergence of beliefs ; Pricing the informational externality ; Crashes and booms
- 5. Limited memories : The sequential model with sampling ; The welfare-improving principle ; Sampling in a very large population ; Social learning or sampling in a large population?
- 6. Delays : The simplest model ; A general model with heterogeneous beliefs ; Properties
- 7. More delays : The length of a period ; Continuous times ; Buildup of private information ; Observation of payoffs
- 8. Outcomes : Incomplete learning ; The determinant of economic success: luck or effort? ; Complete learning with a diversity of private beliefs
- 9. Networks and diffusion : Optimization and diffusion of innovations ; Learning in networks
- 10. Words : Advice by one expert ; Larger sets of states and messages ; Panel of experts ; The receiver does not make the evaluation
- Part II. Coordination : 11. Guessing to coordinate : Overview ; Eductive stability in a standard market ; Strategic complementarities ; Speculative attacks against a fixed exchange rate
- 12. Learning to coordinate : A distribution with a cluster ; Observation noise
- 13. Delays and payoff externalities : Strategic substitutability ; Strategic complementaries
- Part III. Financial herding : 14.l Sequences of financial trades : Learning in the model of Glosten and Milgrom ; Herds ; Avalanches ; Herding in auctions
- 15. Gaussian financial markets : Actions in the CARA-Gauss model ; Markets ; The convergence of beliefs ; Multiple equilibria, crashes, and booms
- 16. Financial frenzies : Speculative attacks against a fixed exchange rate ; Information delays in financial markets ; The crash of a bubble
- Isbn
- 9780511165382
- Label
- Rational herds : economic models of social learning
- Title
- Rational herds
- Title remainder
- economic models of social learning
- Statement of responsibility
- Christophe P. Chamley
- Title variation
- Economic models of social learning
- Language
- eng
- Summary
- This book is the first in the exciting new field of social learning
- Cataloging source
- N$T
- Dewey number
- 303.3/2
- Illustrations
- illustrations
- Index
- index present
- LC call number
- HQ783
- LC item number
- .C47 2004eb
- Literary form
- non fiction
- Nature of contents
-
- dictionaries
- bibliography
- Label
- Rational herds : economic models of social learning, Christophe P. Chamley
- Antecedent source
- unknown
- Bibliography note
- Includes bibliographical references (pages 385-394) and indexes
- http://library.link/vocab/branchCode
-
- net
- Carrier category
- online resource
- Carrier category code
- cr
- Carrier MARC source
- rdacarrier
- Color
- multicolored
- Content category
- text
- Content type code
- txt
- Content type MARC source
- rdacontent
- Contents
- 1. Introduction -- Part I. Social learning : 2. Bayesian tools : The bayesian framework ; Binary and Gaussian information ; Private signals and beliefs ; Martingales -- 3. Social learning with a common memory : A canonical model of social learning ; Efficient learning ; Observation noise ; Extensions -- 4. Cascades and herds : The basic model of herding ; The standard model with bounded beliefs ; The convergence of beliefs ; Herds and the slow convergence of beliefs ; Pricing the informational externality ; Crashes and booms -- 5. Limited memories : The sequential model with sampling ; The welfare-improving principle ; Sampling in a very large population ; Social learning or sampling in a large population? -- 6. Delays : The simplest model ; A general model with heterogeneous beliefs ; Properties -- 7. More delays : The length of a period ; Continuous times ; Buildup of private information ; Observation of payoffs -- 8. Outcomes : Incomplete learning ; The determinant of economic success: luck or effort? ; Complete learning with a diversity of private beliefs -- 9. Networks and diffusion : Optimization and diffusion of innovations ; Learning in networks -- 10. Words : Advice by one expert ; Larger sets of states and messages ; Panel of experts ; The receiver does not make the evaluation -- Part II. Coordination : 11. Guessing to coordinate : Overview ; Eductive stability in a standard market ; Strategic complementarities ; Speculative attacks against a fixed exchange rate -- 12. Learning to coordinate : A distribution with a cluster ; Observation noise -- 13. Delays and payoff externalities : Strategic substitutability ; Strategic complementaries -- Part III. Financial herding : 14.l Sequences of financial trades : Learning in the model of Glosten and Milgrom ; Herds ; Avalanches ; Herding in auctions -- 15. Gaussian financial markets : Actions in the CARA-Gauss model ; Markets ; The convergence of beliefs ; Multiple equilibria, crashes, and booms -- 16. Financial frenzies : Speculative attacks against a fixed exchange rate ; Information delays in financial markets ; The crash of a bubble
- Control code
- ocm69404014
- Dimensions
- unknown
- Extent
- 1 online resource (xiv, 402 pages)
- File format
- unknown
- Form of item
- online
- Isbn
- 9780511165382
- Level of compression
- unknown
- Media category
- computer
- Media MARC source
- rdamedia
- Media type code
- c
- Other physical details
- illustrations
- Quality assurance targets
- not applicable
- http://library.link/vocab/recordID
- .b35969751
- Reformatting quality
- unknown
- Sound
- unknown sound
- Specific material designation
- remote
- System control number
-
- (OCoLC)69404014
- pebcs0511164823
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<div class="citation" vocab="http://schema.org/"><i class="fa fa-external-link-square fa-fw"></i> Data from <span resource="http://link.library.deakin.edu.au/portal/Rational-herds--economic-models-of-social/gOMGaTjJkJg/" typeof="CreativeWork http://bibfra.me/vocab/lite/Item"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.library.deakin.edu.au/portal/Rational-herds--economic-models-of-social/gOMGaTjJkJg/">Rational herds : economic models of social learning, Christophe P. Chamley</a></span> - <span property="offers" typeOf="Offer"><span property="offeredBy" typeof="Library ll:Library" resource="http://link.library.deakin.edu.au/#Deakin%20University%20Library"><span property="name http://bibfra.me/vocab/lite/label"><a property="url" href="http://link.library.deakin.edu.au/">Deakin University Library</a></span></span></span></span></div>
