Economics Seminar (Theory): Ludovic Renou, Arizona State University

Ludovic Renou is a Professor in the Department of Economics at Arizona State University.

TOPIC: Non-Bayesian Learning in Misspecified Models

ABSTRACT: Deviations from Bayesian updating are traditionally categorized as biases, errors, or fallacies, thus implying their inherent “sub-optimality.” We offer a more nuanced view. In learning problems with misspecified models, we show that some non-Bayesian updating can outperform Bayesian updating.

Zoom link available upon request. Please contact vadams@arizona.edu for information.