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I study how a forward-looking decision maker experiments on unknown alternatives of spatially correlated utilities modeled by a Brownian motion so that similar alternatives yield similar utilities. For example, a firm experiments on its size that yields unknown, spatially correlated...
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¤ntific interest are welfare analysis, regional economic dynamics and human capital theory. For his excellent achievements on dynamic …, Simulation, Creativity, Complexity, Product-Cycle, Game Theory Fields: Regional Science; Traffic …
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