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Fact-Free Learning

  • 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)

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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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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  1. 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.
  2. Bray, Margaret M & Savin, Nathan E, 1986. "Rational Expectations Equilibria, Learning, and Model Specification," Econometrica, Econometric Society, vol. 54(5), pages 1129-60, September.
  3. 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.
  4. Itzhak Gilboa, 1990. "Philosophical Applications of Kolmogorov's Complexity Measure," Discussion Papers 923, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  5. Kreps, David M, 1979. "A Representation Theorem for "Preference for Flexibility"," Econometrica, Econometric Society, vol. 47(3), pages 565-77, May.
  6. 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.
  7. Enriqueta Aragones & Itzhak Gilboa & Andrew Postlewaite & David Schmeidler, 2013. "Rhetoric and Analogies," UFAE and IAE Working Papers 932.13, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  8. repec:cup:cbooks:9780521802345 is not listed on IDEAS
  9. Anderlini, Luca & Felli, Leonardo, 1994. "Incomplete Written Contracts: Undescribable States of Nature," The Quarterly Journal of Economics, MIT Press, vol. 109(4), pages 1085-1124, November.
  10. repec:cup:cbooks:9780521003117 is not listed on IDEAS
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