Social Learning Equilibria

Full details of this seminar series are available at the following link:
www.davidronayne.net/lgn-seminar

We consider social learning settings in which a group of agents face uncertainty regarding a state of the world, observe private signals, share the same utility function, and act in a general dynamic setting. We introduce Social Learning Equilibria, a static equilibrium concept that abstracts away from the details of the given extensive form, but nevertheless captures the corresponding asymptotic equilibrium behavior. We establish conditions for agreement, herding, and information aggregation in equilibrium, highlighting a connection between agreement and information aggregation.