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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)

Additional information is available for the following registered author(s):

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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Publisher 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
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Handle: RePEc:pen:papers:03-023

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Related research
Keywords: Learning Behavioral Economics

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Find related papers by JEL classification:
D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory

References listed on IDEAS
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  1. 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, vol. 15(1), pages 222-79, April.
    Other versions:
  2. Anderlini, L. & Felli, L., 1993. "Incomplete Written Contracts: Undescribable States of Nature," Papers 183, Cambridge - Risk, Information & Quantity Signals.
    Other versions:
  3. Dekel, Eddie & Lipman, Barton L. & Rustichini, Aldo, 1998. "Recent developments in modeling unforeseen contingencies," European Economic Review, Elsevier, vol. 42(3-5), pages 523-542, May. [Downloadable!] (restricted)
  4. Kreps, David M, 1979. "A Representation Theorem for "Preference for Flexibility"," Econometrica, Econometric Society, vol. 47(3), pages 565-77, May. [Downloadable!] (restricted)
  5. Eddie Dekel, 1997. "A Unique Subjective State Space for Unforeseen Contingencies," Discussion Papers 1202, Northwestern University, Center for Mathematical Studies in Economics and Management Science. [Downloadable!]
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  6. Bray, Margaret M & Savin, Nathan E, 1986. "Rational Expectations Equilibria, Learning, and Model Specification," Econometrica, Econometric Society, vol. 54(5), pages 1129-60, September. [Downloadable!] (restricted)
  7. Itzhak Gilboa, 1990. "Philosophical Applications of Kolmogorov's Complexity Measure," Discussion Papers 923, Northwestern University, Center for Mathematical Studies in Economics and Management Science. [Downloadable!]
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Skaperdas, Stergios / Vaidya, Samarth, 2007. "Persuasion as a Contest," CESifo Working Paper Series CESifo Working Paper No. , CESifo GmbH. [Downloadable!]
    Other versions:
  2. Xavier Gabaix & David Laibson & Guillermo Moloche & Stephen Weinberg, 2006. "Costly Information Acquisition: Experimental Analysis of a Boundedly Rational Model," American Economic Review, American Economic Association, vol. 96(4), pages 1043-1068, September. [Downloadable!]
  3. Gabrielle Gayer & Itzhak Gilboa & Offer Lieberman, 2007. "Rule-Based and Case-Based Reasoning in Housing Prices," Advances in Theoretical Economics, Berkeley Electronic Press, vol. 7(1), pages 1284-1284. [Downloadable!] (restricted)
    Other versions:
  4. Itzhak Gilboa & Andrew Postlewaite & David Schmeidler, 2004. "Rationality of Belief," Levine's Bibliography 122247000000000690, UCLA Department of Economics. [Downloadable!]
  5. Itzhak Gilboa & Andrew Postlewaite & David Schmeidler, 2004. "Rationality of Belief Or Why Bayesianism is neither necessary nor sufficient for rationality," PIER Working Paper Archive 04-011, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania. [Downloadable!]
    Other versions:
  6. Simon Grant & John Quiggin, 2005. "Learning and Discovery," Risk & Uncertainty Working Papers WP7R05, Risk and Sustainable Management Group, University of Queensland. [Downloadable!]
  7. Itzhak Gilboa & Andrew Postlewaite & David Schmeidler, 2004. "Rationality of Belief Or: Why Savage's axioms are neither necessary nor sufficient for rationality, Second Version," PIER Working Paper Archive 07-001, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 03 Jan 2007. [Downloadable!]
  8. Steffen Huck & Philippe Jehiel & Tom Rutter, 2006. "Information Processing and Learning: Testing the Analogy-based Expectation Approach," Levine's Bibliography 321307000000000364, UCLA Department of Economics. [Downloadable!]
  9. Sendhil Mullainathan & Joshua Schwartzstein & Andrei Shleifer, 2006. "Coarse Thinking and Persuasion," NBER Working Papers 12720, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  10. Jose Apesteguia & Miguel A. Ballester, 2007. "On the Complexity of Rationalizing Behavior," Economics Working Papers 1048, Department of Economics and Business, Universitat Pompeu Fabra. [Downloadable!]
  11. Steffen Huck & Philippe Jehiel & Tom Rutter, 2006. "Information Processing, Learning and Analogy-based Expectation: an Experiment," Levine's Bibliography 321307000000000541, UCLA Department of Economics. [Downloadable!]
  12. Galanis, Spyros, . "Unawareness of Theorems," Discussion Paper Series In Economics And Econometrics 0709, Economics Division, School of Social Sciences, University of Southampton. [Downloadable!]
  13. Aviad Heifetz & Martin Meier & Burkhard C. Schipper, 2005. "Interactive Unawareness," Discussion Papers 52, SFB/TR 15 Governance and the Efficiency of Economic Systems, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich. [Downloadable!]
    Other versions:
  14. Philippe Jehiel & Steffen Huck & Tom Rutter, 2007. "Learning Spillover and Analogy-based Expectations: a Multi-Game Experiment," Levine's Bibliography 843644000000000120, UCLA Department of Economics. [Downloadable!]
  15. Kfir Eliaz & Debraj Ray & Ronny Razin, 2006. "Choice Shifts in Groups: A Decision-Theoretic Basis," American Economic Review, American Economic Association, vol. 96(4), pages 1321-1332, September. [Downloadable!]
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