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Optimal Experimentation in a Changing Environment

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Cited by:

  1. Giovanni Gatti Pinheiro & Thomas Fiig & Michael D. Wittman & Michael Defoin-Platel & Riccardo D. Jadanza, 2022. "Demand change detection in airline revenue management," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 21(6), pages 581-595, December.
  2. Martin Peitz & Sven Rady & Piers Trepper, 2017. "Experimentation in Two-Sided Markets," Journal of the European Economic Association, European Economic Association, vol. 15(1), pages 128-172.
  3. Wirl, Franz, 2008. "Why do oil prices jump (or fall)?," Energy Policy, Elsevier, vol. 36(3), pages 1029-1043, March.
  4. Dinah Rosenberg & Eilon Solan & Nicolas Vieille, 2004. "Timing Games with Informational Externalities," Levine's Working Paper Archive 122247000000000704, David K. Levine.
  5. Asaf Cohen, 2015. "Parameter Estimation: The Proper Way to Use Bayesian Posterior Processes with Brownian Noise," Mathematics of Operations Research, INFORMS, vol. 40(2), pages 361-389, February.
  6. Farzad Pourbabaee, 2022. "Robust experimentation in the continuous time bandit problem," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 73(1), pages 151-181, February.
  7. Millner, Antony & Ollivier, Hélène & Simon, Leo, 2014. "Policy experimentation, political competition, and heterogeneous beliefs," Journal of Public Economics, Elsevier, vol. 120(C), pages 84-96.
  8. Raffaele Morandi Stagni & Andrea Fosfuri & Juan Santaló, 2021. "A bird in the hand is worth two in the bush: Technology search strategies and competition due to import penetration," Strategic Management Journal, Wiley Blackwell, vol. 42(8), pages 1516-1544, August.
  9. Ola Bengtsson & Dan Bernhardt, 2014. "Different Problem, Same Solution: Contract‐Specialization in Venture Capital," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 23(2), pages 396-426, June.
  10. Taub, B., 2023. "Signal-jamming in the frequency domain," Games and Economic Behavior, Elsevier, vol. 142(C), pages 896-930.
  11. Marco Ottaviani & Giuseppe Moscarini & Lones Smith, 1998. "Social learning in a changing world," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 11(3), pages 657-665.
  12. Heski Bar-Isaac, 2001. "Self-Confidence and Survival," FMG Discussion Papers dp395, Financial Markets Group.
  13. Kislaya Prasad, 2008. "Price asymptotics," Review of Economic Design, Springer;Society for Economic Design, vol. 12(1), pages 21-32, April.
  14. Batlome Janjgava & Sergey Slobodyan, 2011. "Duopoly Competition, Escape Dynamics and Non-cooperative Collusion," CERGE-EI Working Papers wp445, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
  15. Isabelle Brocas & Juan D. Carillo, 2005. "A Theory of Influence: The Strategic Value of Public Ignorance," IEPR Working Papers 05.9, Institute of Economic Policy Research (IEPR).
  16. Xiao, Baichun & Yang, Wei, 2021. "A Bayesian learning model for estimating unknown demand parameter in revenue management," European Journal of Operational Research, Elsevier, vol. 293(1), pages 248-262.
  17. Harju, Jarkko & Kosonen, Tuomas & Skans, Oskar Nordström, 2018. "Firm types, price-setting strategies, and consumption-tax incidence," Journal of Public Economics, Elsevier, vol. 165(C), pages 48-72.
  18. Sergey Kovbasyuk & Giancarlo Spagnolo, 2024. "Memory and Markets," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 91(3), pages 1775-1806.
  19. Rauch, James E. & Watson, Joel, 2003. "Starting small in an unfamiliar environment," International Journal of Industrial Organization, Elsevier, vol. 21(7), pages 1021-1042, September.
  20. Décamps, Jean-Paul & Mariotti, Thomas & Villeneuve, Stéphane, 2000. "Investment Timing under Incomplete Information," IDEI Working Papers 115, Institut d'Économie Industrielle (IDEI), Toulouse, revised Apr 2004.
  21. Cujean, Julien & Bustamante, Maria Cecilia & Frésard, Laurent, 2019. "Knowledge Cycles and Corporate Investment," CEPR Discussion Papers 14152, C.E.P.R. Discussion Papers.
  22. Cosimano, Thomas F., 2008. "Optimal experimentation and the perturbation method in the neighborhood of the augmented linear regulator problem," Journal of Economic Dynamics and Control, Elsevier, vol. 32(6), pages 1857-1894, June.
  23. Koulovatianos, Christos & Mirman, Leonard J. & Santugini, Marc, 2009. "Optimal growth and uncertainty: Learning," Journal of Economic Theory, Elsevier, vol. 144(1), pages 280-295, January.
  24. Omar Besbes & Assaf Zeevi, 2011. "On the Minimax Complexity of Pricing in a Changing Environment," Operations Research, INFORMS, vol. 59(1), pages 66-79, February.
  25. Godfrey Keller & Sven Rady, 1998. "Market Experimentation in a Dynamic Differentiated-Goods Duopoly," Game Theory and Information 9810001, University Library of Munich, Germany, revised 20 Aug 1999.
  26. N. Bora Keskin & John R. Birge, 2019. "Dynamic Selling Mechanisms for Product Differentiation and Learning," Operations Research, INFORMS, vol. 67(4), pages 1069-1089, July.
  27. J. Michael Harrison & Nur Sunar, 2015. "Investment Timing with Incomplete Information and Multiple Means of Learning," Operations Research, INFORMS, vol. 63(2), pages 442-457, April.
  28. Gauti B. Eggertsson & Eric Le Borgne, 2010. "A Political Agency Theory of Central Bank Independence," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(4), pages 647-677, June.
  29. Omar Besbes & Denis Sauré, 2014. "Dynamic Pricing Strategies in the Presence of Demand Shifts," Manufacturing & Service Operations Management, INFORMS, vol. 16(4), pages 513-528, October.
  30. Rauh, Michael T. & Seccia, Giulio, 2005. "Experimentation, full revelation, and the monotone likelihood ratio property," Journal of Economic Behavior & Organization, Elsevier, vol. 56(2), pages 239-262, February.
  31. J. Miguel Villas‐Boas, 2006. "Dynamic Competition with Experience Goods," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 15(1), pages 37-66, March.
  32. van Wijnbergen, Sweder & Willems, Tim, 2015. "Optimal learning on climate change: Why climate skeptics should reduce emissions," Journal of Environmental Economics and Management, Elsevier, vol. 70(C), pages 17-33.
  33. Francis Bloch & Simona Fabrizi & Steffen Lippert, 2015. "Learning and collusion in new markets with uncertain entry costs," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 58(2), pages 273-303, February.
  34. Massimo Massa & Andrei Simonov, 2009. "Experimentation in Financial Markets," Management Science, INFORMS, vol. 55(8), pages 1377-1390, August.
  35. Escobar, Juan F. & Llanes, Gastón, 2018. "Cooperation dynamics in repeated games of adverse selection," Journal of Economic Theory, Elsevier, vol. 176(C), pages 408-443.
  36. Chen Yeh & David Argente, 2016. "A Menu Cost Model with Price Experimentation," 2016 Meeting Papers 1515, Society for Economic Dynamics.
  37. Jussi Keppo & Lones Smith & Dmitry Davydov, 2006. "Optimal Electoral Timing: Exercise Wisely and You May Live Longer," Cowles Foundation Discussion Papers 1565, Cowles Foundation for Research in Economics, Yale University.
  38. H. Dharma Kwon & Steven A. Lippman, 2011. "Acquisition of Project-Specific Assets with Bayesian Updating," Operations Research, INFORMS, vol. 59(5), pages 1119-1130, October.
  39. Dinah Rosenberg & Eilon Solan & Nicolas Vieille, 2007. "Social Learning in One-Arm Bandit Problems," Econometrica, Econometric Society, vol. 75(6), pages 1591-1611, November.
  40. Sebastian Sund & Lars H. Sendstad & Jacco J. J. Thijssen, 2022. "Kalman filter approach to real options with active learning," Computational Management Science, Springer, vol. 19(3), pages 457-490, July.
  41. Giuseppe Moscarini & Lones Smith, 1998. "Wald Revisited: The Optimal Level of Experimentation," Working papers 98-4, Massachusetts Institute of Technology (MIT), Department of Economics.
  42. Meagher, Kieron J. & Zauner, Klaus G., 2004. "Product differentiation and location decisions under demand uncertainty," Journal of Economic Theory, Elsevier, vol. 117(2), pages 201-216, August.
  43. Volker Wieland, "undated". "Monetary Policy and Uncertainty about the Natural Unemployment Rate," Computing in Economics and Finance 1997 11, Society for Computational Economics.
  44. Hart E. Posen & Daniel A. Levinthal, 2012. "Chasing a Moving Target: Exploitation and Exploration in Dynamic Environments," Management Science, INFORMS, vol. 58(3), pages 587-601, March.
  45. Michel de Lara & Olivier Gossner, 2019. "Payoffs-Beliefs Duality and the Value of Information," Working Papers hal-01941006, HAL.
  46. Alexander Stremme, 1999. "Optimal Compensation for Fund Managers of Uncertain Type: The Information Advantages of Bonus Schemes," New York University, Leonard N. Stern School Finance Department Working Paper Seires 99-029, New York University, Leonard N. Stern School of Business-.
  47. Jason Delaney & Sarah Jacobson & Thorsten Moenig, 2020. "Preference discovery," Experimental Economics, Springer;Economic Science Association, vol. 23(3), pages 694-715, September.
  48. Tim Willems, 2017. "Actively Learning by Pricing: A Model of an Experimenting Seller," Economic Journal, Royal Economic Society, vol. 127(604), pages 2216-2239, September.
  49. Hao Zhang, 2022. "Analytical Solution to a Discrete-Time Model for Dynamic Learning and Decision Making," Management Science, INFORMS, vol. 68(8), pages 5924-5957, August.
  50. le Borgne, E. & Lockwood, B., 2000. "Do Elections Always Motivate Incumbents?," The Warwick Economics Research Paper Series (TWERPS) 580, University of Warwick, Department of Economics.
  51. Dirk Bergemann & Juuso Välimäki, 2000. "Experimentation in Markets," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 67(2), pages 213-234.
  52. Squintani, Francesco & Valimaki, Juuso, 2002. "Imitation and Experimentation in Changing Contests," Journal of Economic Theory, Elsevier, vol. 104(2), pages 376-404, June.
  53. Ruiz-Aliseda, Francisco, 2009. "Misinformative advertising," IESE Research Papers D/809, IESE Business School.
  54. Isabelle Brocas & Juan D. Carrillo, 2005. "Biases in Perceptions, Beliefs and Behavior," Levine's Bibliography 172782000000000063, UCLA Department of Economics.
  55. Jean-Paul Décamps & Thomas Mariotti & Stéphane Villeneuve, 2005. "Investment Timing Under Incomplete Information," Mathematics of Operations Research, INFORMS, vol. 30(2), pages 472-500, May.
  56. Michel de Lara & Olivier Gossner, 2020. "Payoffs-Beliefs Duality and the Value of Information," Post-Print hal-01941006, HAL.
  57. Philipp Afèche & Barış Ata, 2013. "Bayesian Dynamic Pricing in Queueing Systems with Unknown Delay Cost Characteristics," Manufacturing & Service Operations Management, INFORMS, vol. 15(2), pages 292-304, May.
  58. H. Dharma Kwon & Steven A. Lippman, 2019. "Acquisition of Project-Specific Assets with Bayesian Updating," Papers 1901.04120, arXiv.org.
  59. Eeckhout, Jan & Weng, Xi, 2015. "Common value experimentation," Journal of Economic Theory, Elsevier, vol. 160(C), pages 317-339.
  60. Keller, Godfrey & Rady, Sven, 2020. "Undiscounted bandit games," Games and Economic Behavior, Elsevier, vol. 124(C), pages 43-61.
  61. Loginova, Oksana & Taylor, Curtis, 2003. "Price Experimentation with Strategic Buyers," Working Papers 03-02, Duke University, Department of Economics.
  62. Oksana Loginova & Curtis Taylor, 2008. "Price experimentation with strategic buyers," Review of Economic Design, Springer;Society for Economic Design, vol. 12(3), pages 165-187, September.
  63. J. Michael Harrison & N. Bora Keskin & Assaf Zeevi, 2012. "Bayesian Dynamic Pricing Policies: Learning and Earning Under a Binary Prior Distribution," Management Science, INFORMS, vol. 58(3), pages 570-586, March.
  64. Francesco Squintani & Juuso Valimaki, 1999. "Imitation and Experimentation in a Changing Environment," Discussion Papers 1275, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  65. N. Bora Keskin & Assaf Zeevi, 2017. "Chasing Demand: Learning and Earning in a Changing Environment," Mathematics of Operations Research, INFORMS, vol. 42(2), pages 277-307, May.
  66. Keller, Godfrey & Rady, Sven, 2015. "Breakdowns," Theoretical Economics, Econometric Society, vol. 10(1), January.
  67. Alessandro Bonatti, 2011. "Menu Pricing and Learning," American Economic Journal: Microeconomics, American Economic Association, vol. 3(3), pages 124-163, August.
  68. Omar Besbes & Yonatan Gur & Assaf Zeevi, 2015. "Non-Stationary Stochastic Optimization," Operations Research, INFORMS, vol. 63(5), pages 1227-1244, October.
  69. Arthur Charpentier & Romuald Élie & Carl Remlinger, 2023. "Reinforcement Learning in Economics and Finance," Computational Economics, Springer;Society for Computational Economics, vol. 62(1), pages 425-462, June.
  70. Christos Koulovatianos & Leonard J. Mirman & Marc Santugini, 2006. "Investment in a Monopoly with Bayesian Learning," Vienna Economics Papers vie0603, University of Vienna, Department of Economics.
  71. David P. Myatt, 2005. "Instant Exit from the Asymmetric War of Attrition," Economics Series Working Papers 160, University of Oxford, Department of Economics.
  72. Dan Bernhardt & Bart Taub, 2015. "Learning about common and private values in oligopoly," RAND Journal of Economics, RAND Corporation, vol. 46(1), pages 66-85, March.
  73. Arnoud V. den Boer & Bert Zwart, 2014. "Simultaneously Learning and Optimizing Using Controlled Variance Pricing," Management Science, INFORMS, vol. 60(3), pages 770-783, March.
  74. Victor F. Araman & René Caldentey, 2009. "Dynamic Pricing for Nonperishable Products with Demand Learning," Operations Research, INFORMS, vol. 57(5), pages 1169-1188, October.
  75. Weng, Xi, 2015. "Dynamic pricing in the presence of individual learning," Journal of Economic Theory, Elsevier, vol. 155(C), pages 262-299.
  76. Isabelle Brocas & Juan D. Carrillo, 2009. "Information Acquisition and Choice Under Uncertainty," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 18(2), pages 423-455, June.
  77. Mason, Robin & Välimäki, Juuso, 2011. "Learning about the arrival of sales," Journal of Economic Theory, Elsevier, vol. 146(4), pages 1699-1711, July.
  78. Juan D Carrillo & Isabelle Brocas, 2007. "Systematic errors in decision-making," Levine's Bibliography 122247000000001473, UCLA Department of Economics.
  79. Christos Koulovatianos & Leonard J. Mirman & Marc Santugini, 2006. "Investment in a Monopoly with Bayesian Learning," Vienna Economics Papers 0603, University of Vienna, Department of Economics.
  80. Farzad Pourbabaee, 2021. "Robust Experimentation in the Continuous Time Bandit Problem," Papers 2104.00102, arXiv.org.
  81. Benny Moldovanu & Alex Gershkov, 2008. "The Trade-off Between Fast Learning and Dynamic Efficiency," 2008 Meeting Papers 348, Society for Economic Dynamics.
  82. Wirl, Franz, 2015. "Output adjusting cartels facing dynamic, convex demand under uncertainty: The case of OPEC," Economic Modelling, Elsevier, vol. 44(C), pages 307-316.
  83. Tracy R. Lewis & Huseyin Yildirim, 2002. "Managing Dynamic Competition," American Economic Review, American Economic Association, vol. 92(4), pages 779-797, September.
  84. Michel De Lara & Olivier Gossner, 2017. "An instrumental approach to the value of information," Working Papers 2017-49, Center for Research in Economics and Statistics.
  85. Nils Stieglitz & Thorbjørn Knudsen & Markus C. Becker, 2016. "Adaptation and inertia in dynamic environments," Strategic Management Journal, Wiley Blackwell, vol. 37(9), pages 1854-1864, September.
  86. Agbo, Maxime, 2015. "A perpetual search for talents across overlapping generations: A learning process," Mathematical Social Sciences, Elsevier, vol. 76(C), pages 131-145.
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