How Much Can I Make? Insights on Belief Updating in the Labor Market (with Kenneth Chan)
How do people update their beliefs when encountering new information about labor market opportunities? We analyze data from a recent government survey (the Survey of Consumer Expectations) and find strong evidence of non-Bayesian learning at the aggregate level.
Recommended citation: Brown, Sebastian and Kenneth Chan. "How Much Can I Make? Insights on Belief Updating in the Labor Market." Working Paper, 2025. http://sebastiannbrown.github.io/files/JobSearchLearning.pdf