A Bayesian Approach to the Production of Information and Learning by Doing

DOI10.2307/2296906zbMATH Open0373.90004OpenAlexW1590531044MaRDI QIDQ4152293FDOQ4152293

Authors: Richard Kihlstrom, Leonard J. Mirman, Sanford J. Grossman 

Publication date: 1977

Published in: Review of Economic Studies (Search for Journal in Brave)

Full work available at URL: https://semanticscholar.org/paper/3ec02c9e39caebf0036df6a6844faf500dc72095

Mathematics Subject Classification ID

Decision theory (91B06) Bayesian problems; characterization of Bayes procedures (62C10)

Cited In (26)

• On learning and growth
• Conjectures and underpricing in repeated mass disputes with heterogeneous plaintiffs
• Learning to be prepared
• On the convergence of Bayesian posterior processes in linear economic models. Counting equations and unknowns
• Duopoly experimentation: Cournot competition
• Optimal growth and uncertainty: Learning
• Dynamic duopoly with learning through market experimentation
• Growth under uncertainty with experimentation
• Dynamic pricing and inventory control with learning
• Experimentation with heteroskedastic noise
• The effect of information in separable Bayesian semi-Markov control models and its application to investment planning
• Learning from others: A welfare analysis
• Another look at the Radner--Stiglitz nonconcavity in the value of information.
• Shunning uncertainty: the neglect of learning opportunities
• The dynamics and revealed preference of status-quo optimality
• Experimentation and competition
• Optimal growth with experimentation
• On the convexity of the value function in Bayesian optimal control problems
• The value of information: The case of signal-dependent opportunity sets
• Schumpeterian competition in a Lucas economy
• Optimal investments in market research
• Price asymptotics
• Learning, diversification and the nature of risk
• On the structure of Blackwell's equivalence classes of information systems
• The value to a firm of its rival learning
• Periodic learning about a hidden state variable

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