The (in)appropriate benchmark when beliefs are not the only state variable.

The (in)appropriate benchmark when beliefs are not the only state variable.

In models of learning by experimentation, there is a natural benchmark of myopia when the only intertemporal link is the agent’s subjective belief (signal independence). An alternative benchmark using a passive learner has been proposed when there is a further intertemporal link that directly affect...

Полное описание

Библиографические подробности
Главный автор:	Keller, G
Формат:	Working paper
Язык:	English
Опубликовано:	Department of Economics (University of Oxford) 2005

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