iLOG

DSM: the verdict is major revision. This is the best one can hope for, especially given it is written by an outsider.

The main complains are: 1) loose connections to empirical findings; 2) the justification of commitment; 3) deterministic learning. Also, R1 and R3 want two-period simpler models.

These are all addressable, in a month.

Overall, this is my six-the paper. One more to go for full.

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