Bayesian economists ... Bayesian agents; an alternative approach to optimal learning

Article Abstract:

A study examines the problem of optimal situation for information gathering and processing involving a single infinite-lived Baysian agent. Full learning results when a sequential model with an additional link across periods, besides beliefs, exists. An operator in which economist beliefs evolve is defined and conditions specified that must result in its strong convergence. The study techniques are applied to a monopolist problem and to the stochastic growth model.

Economic aspects, Learning models (Stochastic processes), Sequential analysis, Stochastic models

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Short-memory and the PPP hypothesis

Article Abstract:

Three parametric Markov models to study the purchasing power parity hypothesis in terms of half-lives of real exchange rates are analyzed.

United States, South Korea, Analysis, Usage, Foreign exchange, Foreign exchange rates, Markov processes, Purchasing power

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Bayesian learning, growth, and pollution

Article Abstract:

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