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This paper considers the problem of changing prices over time to maximize expected revenues in the presence of unknown demand distribution parameters. It provides and compares several methods that use the sequence of past prices and observed demands to set price in the current period. A Taylor...
Persistent link: https://www.econbiz.de/10012025378
How can naivete about present bias persist despite experience? To answer this question, our experiment investigates … the nature of the task at the second date further shows that learning is unencumbered by a change in environment. Our … in experimentation and a failure to activate self-regulation mechanisms. …
Persistent link: https://www.econbiz.de/10011976128
learning model. The first section develops a dynamic model combining asset accumulation and learning to explain the parents … child’s ability. The model infers that, with enough time spent learning, information can improve parents’ welfare. This can … investigates college saving behavior when learning is present. Data suggest pessimistic and/or rich parents might reduce the level …
Persistent link: https://www.econbiz.de/10009625571
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The parameterisation of energy and climate policies often depends on the technology, which is price-setting in electricity markets. We propose two simple approaches to determine marginal technologies in electricity wholesale from available data. Both approaches are complementary, computationally...
Persistent link: https://www.econbiz.de/10012055621
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the need for a new theory of how cooperation emerges. … daher die Notwendigkeit einer neuen Theorie über die Entstehung von Kooperation nahe. …
Persistent link: https://www.econbiz.de/10010194591
We study long-run learning in an experimental Cournot game with no explicit information about the payoff function …-shot game. Our results suggest a new explanation for the emergence of cooperation. -- Cournot oligopoly ; imitation ; learning …
Persistent link: https://www.econbiz.de/10009583743
reference group. In a novel experiment, I vary whether or not members of a reference group obtain relative performance …
Persistent link: https://www.econbiz.de/10012139010