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Fragility of Confounded Learning

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  • Xuanye Wang

Abstract

We consider an observational learning model with exogenous public payoff shock. We show that confounded learning doesn't arise for almost all private signals and almost all shocks, even if players have sufficiently divergent preferences.

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  • Xuanye Wang, 2021. "Fragility of Confounded Learning," Papers 2106.07712, arXiv.org.
    • Handle: RePEc:arx:papers:2106.07712
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