Supplement to "Progressive Learning"

This Online Appendix to the paper titled “Progressive Learning” presents the proof of Lemma 0, an extension of our equilibrium characterization allowing for mixed strategies, an analysis of the full commitment case, and details for Example 4 showing that path dependence can arise when shocks are ergodic.

Supplemental Authors: 
Ortner, Juan - Boston University
Acharya, Avidit - Stanford University
Online Appendix