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In February 2014, strikes by staff on London's underground network enabled a sizeable fraction of commuters to find better routes, according to research by Shaun Larcom, Ferdinand Rauch and Tim Willems. Many commuters w...Read more...
Shaun Larcom, Ferdinand Rauch and Tim Willems
6 November 2015
We estimate that a significant fraction of commuters on the London underground do not travel their optimal route. Consequently, a tube strike (which forced many commuters to experiment with new routes) taught commuters a...Read more...
21 September 2015
We present a decision theoretic framework in which agents are learning about market behavior and that provides microfoundations for models of adaptive learning. Agents are ‘internally rational’, i.e., maximize discounted...Read more...
Klaus Adam and Albert Marcet
12 August 2011