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Fact-Free Learning

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Author Info

  • Enriqueta Aragones

    ()
    (Universitat Autonoma Bellaterra, Institut d'Analisi Economica)

  • Itzhak Gilboa

    ()
    (Cowles Foundation for Research in Economics, Yale University)

  • Andrew Postlewaite

    ()
    (Department of Economics, University of Pennsylvania)

  • David Schmeidler

    ()
    (School of Mathematical Sciences, Tel Aviv University)

Abstract

People may be surprised by noticing certain regularities that hold in existing knowledge they have had for some time. That is, they may learn without getting new factual information. We argue that this can be partly explained by computational complexity. We show that, given a database, finding a small set of variables that obtain a certain value of R2 is computationally hard, in the sense that this term is used in computer science. We discuss some of the implications of this result and of fact-free learning in general.

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File URL: http://economics.sas.upenn.edu/system/files/working-papers/03-023.pdf
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Bibliographic Info

Paper provided by Penn Institute for Economic Research, Department of Economics, University of Pennsylvania in its series PIER Working Paper Archive with number 03-023.

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Length: 32 pages
Date of creation: 01 Oct 2003
Date of revision:
Handle: RePEc:pen:papers:03-023

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Keywords: Learning; Behavioral Economics;

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References

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  1. Kreps, David M, 1979. "A Representation Theorem for "Preference for Flexibility"," Econometrica, Econometric Society, Econometric Society, vol. 47(3), pages 565-77, May.
  2. Enriqueta Aragones & Itzhak Gilboa & Andrew Postlewaite & David Schmeidler, 2013. "Rhetoric and Analogies," UFAE and IAE Working Papers, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC) 932.13, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  3. Gilboa,Itzhak & Schmeidler,David, 2001. "A Theory of Case-Based Decisions," Cambridge Books, Cambridge University Press, Cambridge University Press, number 9780521802345.
  4. Bray, Margaret M & Savin, Nathan E, 1986. "Rational Expectations Equilibria, Learning, and Model Specification," Econometrica, Econometric Society, Econometric Society, vol. 54(5), pages 1129-60, September.
  5. Itzhak Gilboa, 1990. "Philosophical Applications of Kolmogorov's Complexity Measure," Discussion Papers, Northwestern University, Center for Mathematical Studies in Economics and Management Science 923, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  6. La Porta, Rafael & Lopez-de-Silanes, Florencio & Shleifer, Andrei & Vishny, Robert, 1999. "The Quality of Government," Journal of Law, Economics and Organization, Oxford University Press, Oxford University Press, vol. 15(1), pages 222-79, April.
  7. Dekel, Eddie & Lipman, Barton L & Rustichini, Aldo, 2001. "Representing Preferences with a Unique Subjective State Space," Econometrica, Econometric Society, Econometric Society, vol. 69(4), pages 891-934, July.
  8. Anderlini, Luca & Felli, Leonardo, 1994. "Incomplete Written Contracts: Undescribable States of Nature," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 109(4), pages 1085-1124, November.
  9. Dekel, Eddie & Lipman, Barton L. & Rustichini, Aldo, 1998. "Recent developments in modeling unforeseen contingencies," European Economic Review, Elsevier, Elsevier, vol. 42(3-5), pages 523-542, May.
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  1. 'The Spread' is Absurd, So is Life
    by Eric Falkenstein in Falkenblog on 2011-03-30 01:42:00
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