Detail The Ignorant Monopolist : Optimal Learning With Endogenous Information   Oleh:  Trefler, Daniel Jenis: Article from Bulletin/Magazine Dalam koleksi: INTERNATIONAL ECONOMIC REVIEW vol. 34 no. 3 (1993), page 565-582. Topik: monopolistic; ignorant monopolist; learning; endogenous information Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: II49.3 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel Economics lacks a good theory of the pricing and output decisions of a monopolist which does not know its demand-we inevitably assume that the monopolist knows much more about demand conditions than is reasonable. I present a model in which demand information is generated endogenously. When information is endogenous the monopolist has an incentive to experiment with price and quantity. I derive the direction of experimentation, characterize an important value function arising from dynamic programming problems with learning, and relate the results to Blackwell's comparison of experiments. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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