A simple approach to identifying the incentives for policy experimentation.
We present a simple concavity condition that describes the incentives for a policy maker to pursue policy experiments. Our approach avoids the computational cost of numerical methods that fully characterise optimal experimentation under learning.
| Huvudupphovsmän: | , |
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| Materialtyp: | Journal article |
| Språk: | English |
| Publicerad: |
Elsevier
2005
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| Sammanfattning: | We present a simple concavity condition that describes the incentives for a policy maker to pursue policy experiments. Our approach avoids the computational cost of numerical methods that fully characterise optimal experimentation under learning. |
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