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- Publisher Website: 10.1093/ej/uez043
- Scopus: eid_2-s2.0-85081752943
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Article: Learning while Experimenting
Title | Learning while Experimenting |
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Authors | |
Issue Date | 2020 |
Publisher | Wiley for Royal Economic Society. The Journal's web site is located at http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1468-0297 |
Citation | The Economic Journal, 2020, v. 130 n. 625, p. 65-92 How to Cite? |
Abstract | An agent performing risky experimentation can benefit from suspending it to directly learn about the state. ‘Positive’ information acquisition seeks news that would confirm the state that favours experimentation. It is used as a last-ditch effort when the agent is pessimistic about the risky arm before abandoning it. ‘Negative’ information acquisition seeks news that would demonstrate that experimentation is futile. It is used as an insurance strategy to avoid wasteful experimentation when the agent is still optimistic. A higher reward from risky experimentation expands the region of beliefs that the agent optimally chooses information acquisition rather than experimentation. |
Persistent Identifier | http://hdl.handle.net/10722/279006 |
ISSN | 2023 Impact Factor: 3.8 2023 SCImago Journal Rankings: 4.507 |
ISI Accession Number ID |
DC Field | Value | Language |
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dc.contributor.author | Damiano, E | - |
dc.contributor.author | Li, H | - |
dc.contributor.author | Suen, W | - |
dc.date.accessioned | 2019-10-21T02:17:53Z | - |
dc.date.available | 2019-10-21T02:17:53Z | - |
dc.date.issued | 2020 | - |
dc.identifier.citation | The Economic Journal, 2020, v. 130 n. 625, p. 65-92 | - |
dc.identifier.issn | 0013-0133 | - |
dc.identifier.uri | http://hdl.handle.net/10722/279006 | - |
dc.description.abstract | An agent performing risky experimentation can benefit from suspending it to directly learn about the state. ‘Positive’ information acquisition seeks news that would confirm the state that favours experimentation. It is used as a last-ditch effort when the agent is pessimistic about the risky arm before abandoning it. ‘Negative’ information acquisition seeks news that would demonstrate that experimentation is futile. It is used as an insurance strategy to avoid wasteful experimentation when the agent is still optimistic. A higher reward from risky experimentation expands the region of beliefs that the agent optimally chooses information acquisition rather than experimentation. | - |
dc.language | eng | - |
dc.publisher | Wiley for Royal Economic Society. The Journal's web site is located at http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1468-0297 | - |
dc.relation.ispartof | The Economic Journal | - |
dc.rights | Preprint This is the pre-peer reviewed version of the following article: [FULL CITE], which has been published in final form at [Link to final article]. Authors are not required to remove preprints posted prior to acceptance of the submitted version. Postprint This is the accepted version of the following article: [full citation], which has been published in final form at [Link to final article]. | - |
dc.title | Learning while Experimenting | - |
dc.type | Article | - |
dc.identifier.email | Suen, W: hrneswc@hku.hk | - |
dc.identifier.authority | Suen, W=rp00066 | - |
dc.description.nature | link_to_subscribed_fulltext | - |
dc.identifier.doi | 10.1093/ej/uez043 | - |
dc.identifier.scopus | eid_2-s2.0-85081752943 | - |
dc.identifier.hkuros | 308065 | - |
dc.identifier.volume | 130 | - |
dc.identifier.issue | 625 | - |
dc.identifier.spage | 65 | - |
dc.identifier.epage | 92 | - |
dc.identifier.isi | WOS:000546130400004 | - |
dc.publisher.place | United Kingdom | - |
dc.identifier.issnl | 0013-0133 | - |