Experimentation with accumulation
We study signal-dependent experimentation in the presence of accumulation and show that the passive-learner's action surprisingly coincides with the experimentor's when the unknown term is the one determining the decay rate of the stock, while they differ when the parameter being learned i...
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| Veröffentlicht in: | Journal of economic dynamics & control 2008-02, Vol.32 (2), p.470-496 |
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| container_end_page | 496 |
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| container_issue | 2 |
| container_start_page | 470 |
| container_title | Journal of economic dynamics & control |
| container_volume | 32 |
| creator | Cunha-e-Sá, Maria A. Santos, Vasco |
| description | We study signal-dependent experimentation in the presence of accumulation and show that the passive-learner's action surprisingly coincides with the experimentor's when the unknown term is the one determining the decay rate of the stock, while they differ when the parameter being learned is the one measuring the accumulation rate. These results highlight the importance of the dynamic structure of the problem in signal-dependent experimentation. Moreover, they have important consequences for the pollution-accumulation debate currently in progress. |
| doi_str_mv | 10.1016/j.jedc.2007.02.003 |
| format | Article |
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| fulltext | fulltext |
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| ispartof | Journal of economic dynamics & control, 2008-02, Vol.32 (2), p.470-496 |
| issn | 0165-1889 1879-1743 |
| language | eng |
| recordid | cdi_proquest_miscellaneous_36809723 |
| source | RePEc; Access via ScienceDirect (Elsevier) |
| subjects | Accumulation Economic dynamics Economics Environmental policy Experimental economics Experimental methods Learning Pollution Pollution costs Problem solving Regression analysis Signal-dependent experimentation Stocks Studies |
| title | Experimentation with accumulation |
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