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We offer a model of experimentation and learning with uncertain outcomes, and show that competition leads to less …
Persistent link: https://www.econbiz.de/10012894249
and public signals. We show that competition leads the two firms to invest too early and analyse collusion schemes whereby …
Persistent link: https://www.econbiz.de/10009409636
Retailers may face uncertainty about the profitability of local markets, which provide opportunities for learning when making entry decisions. To quantify these informational benefits, I develop an empirical framework for studying dynamic retail entry with uncertainty and learning (from others)....
Persistent link: https://www.econbiz.de/10012905791
meeting competition clauses yield higher payoffs compared to Q-learning algorithms. …
Persistent link: https://www.econbiz.de/10013534374
Crowd-sourced recommender platforms organize social learning about products by recommending items based on information collected from previous users. A crucial design question is the level of experimentation over the life cycle of a product. I study how market structure affects experimentation,...
Persistent link: https://www.econbiz.de/10012963639
We develop a dynamic two-period generalized beauty contest to study the optimal level of publicity when disclosed information is subject to multiplier effects inherent to social learning. We build upon the static case, where all agents receive a private signal about an unknown fundamental state...
Persistent link: https://www.econbiz.de/10011373562
We develop a dynamic two-period generalized beauty contest to study the optimal level of publicity when disclosed information is subject to multipliereffects inherent to social learning. We build upon the static case, where all agents receive a private signal about an unknown fundamental state...
Persistent link: https://www.econbiz.de/10011349468
Learning is crucial to organizational decision making but often needs to be delegated. We examine a dynamic delegation problem where a principal decides on a project with uncertain profitability. A biased agent, who is initially as uninformed as the principal, privately learns the profitability...
Persistent link: https://www.econbiz.de/10012587421
We study learning by privately informed forward-looking agents in a simple repeated-action setting of social learning. Under a symmetric signal structure, forward-looking agents behave myopically for any degrees of patience. Myopic equilibrium is unique in the class of symmetric threshold...
Persistent link: https://www.econbiz.de/10014263855
We consider a dynamic model in which a principal decides what information to release about a product of unknown quality (e.g., a vaccine) to incentivize agents to experiment with the product. Assuming that the agents are long-lived and forward-looking, their incentive to wait and see other...
Persistent link: https://www.econbiz.de/10015047806