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Investment in a Monopoly With Bayesian Learning

Koulovatianos, Christos; Mirman, Leonard J.; Santugini, Marc - 2011

We study how learning affects an uninformed monopolist's supply and investment decisions under multiplicative … the random demand. Observing prices reveals this information slowly. We first show how to incorporate Bayesian learning … of learning on supply and investment decisions, as well as the steady state level of capital. Our findings are as follows …

Persistent link: https://www.econbiz.de/10014068523

Learning, as a wonder weapon of endogenous growth?

Mihályi, Péter - 2017

This extended book review of Creating a Learning Society by Joseph Stiglitz and Bruce Greenwald (2014) looks at the 700 … "learning by doing", the authors throw away the doctrines of free trade, liberalization of capital, as well as the …-wide learning. In the opinion of the present author, Stiglitz and his co-author are using the term "learning" in such a broad sense …

Persistent link: https://www.econbiz.de/10011757523

Experimentation in two-sided markets

Peitz, Martin; Rady, Sven; Trepper, Piers - 2015

optimal level. This interplay between learning and surplus extraction is crucial to the market outcome and its dynamics. …

Persistent link: https://www.econbiz.de/10010518802

Experimentation in two-sided markets

Peitz, Martin; Rady, Sven; Trepper, Piers - 2013

We study optimal experimentation by a monopolistic platform in a two-sided mar- ket. The platform provider faces uncertainty about the strength of the externality each side is exerting on the other. It maximizes the expected present value of its profit stream in a continuous-time...

Persistent link: https://www.econbiz.de/10011490256

Experimentation in two-sided markets

Peitz, Martin; Rady, Sven; Trepper, Piers - 2011

We study optimal experimentation by a monopolistic platform in a two-sided market framework. The platform provider faces uncertainty about the strength of the externality each side is exerting on the other. It maximizes the expected present value of its profit stream in a continuous-time...