arXiv 20 Nov 2023 · Statistics — Methodology
arXiv:2311.12878 · PDF · DOI · OpenAlex · Extracted main text
This manuscript presents an advanced framework for Bayesian learning by incorporating action and state-dependent signal variances into decision-making models. This framework is pivotal in understanding complex data-feedback loops and decision-making processes in various economic systems. Through a series of examples, we demonstrate the versatility of this approach in different contexts, ranging from simple Bayesian updating in stable environments to complex models involving social learning and state-dependent uncertainties. The paper uniquely contributes to the understanding of the nuanced interplay between data, actions, outcomes, and the inherent uncertainty in economic models.
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The works this paper leans on most, across its whole bibliography — not restricted to papers in our corpus. Ranked by composite intensity, which combines how often a work is mentioned, how many sections mention it, and how much of that falls in the main text rather than the appendix.
| Reference | Intensity | Mentions | Sections | Main text | |
|---|---|---|---|---|---|
| 1 | Orlik, A. and Veldkamp, L (2014) Understanding uncertainty shocks and the role of black swans | 0.811 | 4 | 2 | 100% |
| 2 | Ang, A. and Bekaert, G (2002) Regime switches in interest rates | 0.511 | 2 | 1 | 100% |
| 3 | Veldkamp, L. L (2023) Information choice in macroeconomics and finance | 0.511 | 2 | 1 | 100% |
| 4 | Baley, I. and Veldkamp, L (2023) Bayesian learning | 0.405 | 1 | 1 | 100% |
| 5 | Bekaert, G., Hodrick, R. J., and Marshall, D. A (2001) Peso problem explanations for term structure anomalies | 0.405 | 1 | 1 | 100% |
| 6 | Bergemann, D. and Valimaki, J (2006) Bandit problems | 0.405 | 1 | 1 | 100% |
| 7 | Bikhchandani, S., Hirshleifer, D., and Welch, I (1998) Learning from the behavior of others: Conformity, fads, and informational cascades | 0.405 | 1 | 1 | 100% |
| 8 | Black, F (1976) Studies of stock market volatility changes | 0.405 | 1 | 1 | 100% |
| 9 | Christie, A. A (1982) The stochastic behavior of common stock variances: Value, leverage and interest rate effects | 0.405 | 1 | 1 | 100% |
| 10 | Daly, M (2018) Feasible portfolios under tracking error, $$, $$ and utility constraints | 0.405 | 1 | 1 | 100% |
Showing the top 10 of 28 scored citations.