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| Type | Working Paper |
| Scope | Discipline-based scholarship |
| Title | Learning, public good provision, and the information trap |
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| Institution | University of Zurich |
| Series Name | Working paper series / Institute for Empirical Research in Economics |
| Number | No. 371 |
| ISSN | 1424-0459 |
| Date | 2008 |
| Abstract Text | We consider an economy where decision maker(s) do not know the true production function for a public good. By using Bayes rule they can learn from experience. We show that the economy may learn the truth, but that it may also converge to an inefficient policy where no further inference is possible so that the economy is stuck in an information trap. We also show that our results are robust with respect to experimentation. |
| Official URL | http://www.econ.uzh.ch/wp.html |
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