A golden rule for uncertain monopolists
It is shown that monopolists who are uncertain of the level of output at which they will maximise profits can use a simple decision rule, based on the ‘golden section’, for choosing an efficient sequence of experiments.
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| Veröffentlicht in: | Economics letters 1980, Vol.5 (1), p.33-37 |
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| 1. Verfasser: | |
| Format: | Artikel |
| Sprache: | eng |
| Online-Zugang: | Volltext |
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| Zusammenfassung: | It is shown that monopolists who are uncertain of the level of output at which they will maximise profits can use a simple decision rule, based on the ‘golden section’, for choosing an efficient sequence of experiments. |
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| ISSN: | 0165-1765 1873-7374 |
| DOI: | 10.1016/0165-1765(80)90106-8 |