EconPapers    
Economics at your fingertips  
 

Bayesian Learning

Isaac Baley and Laura Veldkamp

No 16377, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: We survey work using Bayesian learning in macroeconomics, highlighting common themes and new directions. First, we present many of the common types of learning problems agents face -- signal extraction problems -- and trace out their effects on macro aggregates, in different strategic settings. Then we review different perspectives on how agents get their information. Models differ in their motives for information acquisition and the cost of information, or learning technology. Finally, we survey the growing literature on the data economy, where economic activity generates data and the information in data feeds back to affect economic activity.

Keywords: Bayes' law; Passive learning; Active learning; Signal extraction; Information choice; Sticky information; Rational inattention; Experimentation; Data economy; Coordination games (search for similar items in EconPapers)
JEL-codes: D80 D81 D83 D84 E20 E30 (search for similar items in EconPapers)
Date: 2021-07
References: Add references at CitEc
Citations:

Downloads: (external link)
https://cepr.org/publications/DP16377 (application/pdf)
CEPR Discussion Papers are free to download for our researchers, subscribers and members. If you fall into one of these categories but have trouble downloading our papers, please contact us at subscribers@cepr.org

Related works:
Working Paper: Bayesian Learning (2021) Downloads
Working Paper: Bayesian Learning (2021) Downloads
Working Paper: Bayesian learning (2021) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cpr:ceprdp:16377

Ordering information: This working paper can be ordered from
https://cepr.org/publications/DP16377

Access Statistics for this paper

More papers in CEPR Discussion Papers from C.E.P.R. Discussion Papers Centre for Economic Policy Research, 33 Great Sutton Street, London EC1V 0DX.
Bibliographic data for series maintained by ().

 
Page updated 2025-03-23
Handle: RePEc:cpr:ceprdp:16377