Learning in Economics: Where Do We Stand?

Tilman Slembeck ()

Microeconomics from EconWPA

Abstract: 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".

Keywords: economic learning; behavioral economics; experiments; game theory; information feedback; contingent learning (search for similar items in EconPapers)
JEL-codes: B4 C9 D8 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-evo
Date: 2000-07-05
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
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Persistent link: http://EconPapers.repec.org/RePEc:wpa:wuwpmi:0004007

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