Ludovic Renou | Queen Mary London
Non-Bayesian Learning in Misspecified Models
Noemi Pace Seminars
PhD EF
When
Wednesday, April 9, 2025 h. 13:00-14:00
Where
Sala del Consiglio
Description
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. We demonstrate that, in learning problems with misspecified models, non-Bayesian updating can outperform Bayesian updating.