The literature on experimentation and learning typically imposes a special dynamic structure: the only connection between periods is the updating of beliefs. Hence, both the present action and present signal realization only affect the future by changing the distribution of future beliefs. In...

Typically the literature on experimentation and learning imposes a special dynamic structure: the present signal realization only affects the future by changing the distribution of future beliefs. In many contexts however the model may have "signal dependence", that is, the current signal may...