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Disagreement leads to complete learning: Sequential choice with continuous types

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  • Wiseman, Thomas

Abstract

Players with observable, continuous payoff types choose actions sequentially. Players update beliefs about the payoff-relevant state of nature using private signals and information about previous signals in the history of types and actions. Heterogeneity in preferences ensures complete learning.

Suggested Citation

  • Wiseman, Thomas, 2008. "Disagreement leads to complete learning: Sequential choice with continuous types," Economics Letters, Elsevier, vol. 100(1), pages 53-55, July.
    • Handle: RePEc:eee:ecolet:v:100:y:2008:i:1:p:53-55
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    References listed on IDEAS

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    1. Jacob Goeree & Thomas Palfrey & Brian Rogers, 2006. "Social learning with private and common values," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 28(2), pages 245-264, June.
    2. Bikhchandani, Sushil & Hirshleifer, David & Welch, Ivo, 1992. "A Theory of Fads, Fashion, Custom, and Cultural Change in Informational Cascades," Journal of Political Economy, University of Chicago Press, vol. 100(5), pages 992-1026, October.
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    Cited by:

    1. Cunha, Douglas & Monte, Daniel, 2023. "Diversity Fosters Learning in Environments with Experimentation and Social Learning," MPRA Paper 117095, University Library of Munich, Germany.

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