Learning, Large Deviations and Rare Events

Jess Benhabib, Chetan Dave

NBER Working Paper No. 16816
Issued in February 2011

---- Acknowledgements -----

We thank Chryssi Giannitsarou, In-Koo Cho, John Duffy, George Evans, Boyan Jovanovic, Tomasz Sadzik, Benoite de Saporta, Tom Sargent and two anonymous referees for helpful comments and suggestions. The usual disclaimer applies. The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research.

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