2 papers
econ.TH2026
Learning and Equilibrium under Model Misspecification
Ignacio Esponda, Demian Pouzo
This chapter develops a unified framework for studying misspecified learning situations in which agents optimize and update beliefs within an incorrect model of their environment.…
econ.TH2025
Berk-Nash Rationalizability
Ignacio Esponda, Demian Pouzo
We study learning in complete-information games, allowing the players' models of their environment to be misspecified. We introduce Berk--Nash rationalizability: the largest self-j…