In economics, adjustment of behavior has traditionally been treated as a "black box." Recent approaches that focus on learning behavior try to model, test, and simulate specific adjustment mechanisms in specific environments (mostly in games). Results often critically depend on distinctive assumptions, and are not easy to generalize. This paper proposes a different approach that aims to allow for more general conclusions in a methodologically more compatible way. It is argued that the introduction of the main determinants of learning behavior as situational restrictions into the standard economic model may be a fruitful way to capture some important aspects of human behavior that have often been omitted in economic theory. Based on a simple model of learning behavior (learning loop), robust findings from psychology are used to explain behavior adjustment, and to identify its determinants (contingent learning). An integrative methodology is proposed where the "black box" is not opened, but instead the factors that determine what happens inside, and the limits imposed by theses factors can be analyzed and used for model building. The paper concludes with testable hypotheses about learning behavior in the context of economics.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
file. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Publisher Info
Paper provided by EconWPA in its series Microeconomics with number
9905001.
Length: 31 pages Date of creation: 04 May 1999 Date of revision: Handle: RePEc:wpa:wuwpmi:9905001
Note: Type of Document - PDF-File; prepared on IBM PC; to print on PostScript; pages: 31 ; figures: included. Working Paper, Department of Economics, University of St.Gallen, prepared for the EEA Annual Meeting, Berlin Sept. 1998, downloads Contact details of provider: Web page: http://129.3.20.41
For technical questions regarding this item, or to correct its listing, contact: (EconWPA).
Find related papers by JEL classification: D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory C9 - Mathematical and Quantitative Methods - - Design of Experiments
References listed on IDEAS 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.:
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.)