a case study of imperfect information dynamic programming problem with learning and experimentation trade-off, that is …, a choice between controlling the policy target and learning system parameters. Specifically, we use a model of active … learning and control of a linear autoregression with the unknown slope that appeared in a variety of macroeconomic policy and …

We embed learning (without experimentation) in optimal growth. We extend the Mirman-Zilcha results of stochastic … optimal growth to the learning case. We use recursive methods to study the effect of learning on the dynamic program by …

a case study of imperfect information dynamic programming problem with learning and experimentation trade-off, that is …, a choice between controlling the policy target and learning system parameters. Specifically, we use a model of active … learning and control of a linear autoregression with the unknown slope that appeared in a variety of macroeconomic policy and …

In this paper we propose and study a theory of adaptive consumption behavior under income uncertainty and liquidity …

case study of imperfect information dynamic programming problem with learning and experimentation trade-off that is, a … choice between controlling the policy target and learning system parameters. Specifically, we use a model of active learning … lie behind steep learning barrier, we argue that the future of many computations belong to parallel algorithms anyway. …

We introduce learning in a Brock-Mirman environment and study the effect of risk generated by the planner's econometric … activity on optimal consumption and investment. Here, learning introduces two sources of risk about future payoffs: structural … uncertainty and uncertainty from the anticipation of learning. The latter renders control and learning nonseparable. We present …

of information (or learning) in the structure of the problem, and thus the agent can perturb the system (experiment …