We study how an agent learns from endogenous data when their prior belief is misspecified.
We show that only uniform Berk–Nash equilibria can be long‐run outcomes, and that all …

Background The viability and virulence of COVID-19 are complex in nature. Although the
relationship between environmental parameters and COVID-19 is well studied across the …

Which equilibria will arise in signaling games depends on how the receiver interprets
deviations from the path of play. We develop a micro‐foundation for these off‐path beliefs …

Abstract Player-Compatible Equilibrium (PCE) imposes cross-player restrictions on the
magnitudes of the players'“trembles” onto different strategies. These restrictions capture the …

We show that the probability that Bayesian posteriors assign to the outcome distributions
that do not``best fit''the empirical distribution in terms of Kullback-Leibler divergence …

We show that Bayesian posteriors concentrate on the outcome distributions that
approximately minimize the Kullback–Leibler divergence from the empirical distribution …

A total of 2,575 beef heifers (BW= 568±28.1 lb; 258±12.7 kg) at high-risk of developing
bovine respiratory disease (BRD) were enrolled in a randomized complete-block design …

Learning models do not in general imply that weakly dominated strategies are irrelevant or
justify the related concept of “forward induction,” because rational agents may use …

Forecasting extremely rare events is a pressing problem, but efforts to model such outcomes
are often limited by the presence of multiple causes within classes of events, insufficient …

Philipp Strack is creative, insightful, and skillful, which has allowed him to make major
contributions to many areas of microeconomic theory, including behavioral economics …