Modelling Learning in Economics

Modelling Learning in Economics provides a comprehensive study of how learning processes can be modelled in an economic context.This innovative book investigates the processes involved in economic learning by categorizing different ways of learning, and using mathematical models for their description. The author distinguishes three types of learning processes - non-cognitive, routine-based and associative learning - and, for each of these, a model is proposed. Thomas Brenner also provides an overview of the psychological literature on learning and on the learning models most frequently used in economics. He then goes on to present applications of these models of learning to various economic topics including evolutionary game theory, consumption behaviour, investment behaviour of savers and the diffusion of innovation. In applying the models to economic topics, the author not only presents new insights into learning but also contributes to many topics within economic research. This book will be of interest to economic psychologists and economists working in the areas of game theory, consumer and investment behaviour and the diffusion of innovation.