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We study the inference and experimentation problem of an agent in a situation where the outcomes depend on the … external factors if they fail. They are too easily dissatisfied with their environment, which leads them to experiment in …
Persistent link: https://www.econbiz.de/10011966912
Advertisers seek to maximize profits by investing in advertising. We propose a “cost-per-incremental-action” (CPIA) pricing model which incorporates the causal contribution of advertising in order to achieve the advertisers' objectives such as profit maximization. CPIA pricing aligns...
Persistent link: https://www.econbiz.de/10011807833
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We develop a model of policy experimentation in federal systems in which heterogeneous districts choose both whether to … experiment and the policies to experiment with. The prospect of informational spillovers implies that in the fi rst best the … a policy tournament that can increase the incentive to experiment and encourage policy convergence. We compare outcomes …
Persistent link: https://www.econbiz.de/10011862030
We consider an environment in which a principal hires an agent and evaluates his productivity over time in an ongoing relationship. The problem is embedded in a continuoustime model with both hidden action and hidden information, where the principal must induce the agent to exert effort to...
Persistent link: https://www.econbiz.de/10011756012
We study the inference and experimentation problem of an agent in a situation where the outcomes depend on the … external factors if they fail. They are too easily dissatisfied with their environment, which leads them to experiment in …
Persistent link: https://www.econbiz.de/10011930663
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