Egger, Peter; Fahn, Matthias; Merlo, Valeria; Wamser, Georg - C.E.P.R. Discussion Papers - 2011
, the firm collects information which is used to update its beliefs about its performance at a market. As conditions in … different markets are correlated, the information gathered in one of them can also be used to update beliefs elsewhere – with … correlated learning may render it optimal to enter markets sequentially – an investment in market A is only followed by entry in …