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Learning in Economics: Where Do We Stand?

  • Tilman Slembeck

    (University of St.Gallen)

This paper briefly reviews the current literature on learning in economics from a behavioral point of view. It critically compares theory with aspects of learning in real-life and with evidence from laboratory experiments, and argues that most customary approaches lack criteria for their applicability. Hence, there is a need for a theory that includes criteria when to employ which theory or which element(s) of existing theories contingent on the situation or environment in question. A discussion of several unsolved issues in economic learning stresses the fundamental role of learning conditions that have be neglected in the literature, but are accounted for in behavioral approaches such as "contingent learning".

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File URL: http://128.118.178.162/eps/mic/papers/0004/0004007.pdf
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Paper provided by EconWPA in its series Microeconomics with number 0004007.

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Length: 22 pages
Date of creation: 05 Jul 2000
Date of revision:
Handle: RePEc:wpa:wuwpmi:0004007
Note: Type of Document - PDF; prepared on IBM PC; to print on HP/PostScript/; pages: 22 ; figures: included. Discussion Paper No. 9907, Department of Economics, University of St.Gallen, August 1999, downloads at http://www.fgn.unisg.ch/public/public.htm
Contact details of provider: Web page: http://128.118.178.162

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  1. Loomes, Graham, 1999. "Some Lessons from Past Experiments and Some Challenges for the Future," Economic Journal, Royal Economic Society, vol. 109(453), pages F35-45, February.
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