Learning about variable demand in the long run

DOI10.1016/0165-1889(94)00827-5zbMath0900.90091OpenAlexW2085375886MaRDI QIDQ673706

Asher Wolinsky, Aldo Rustichini

Publication date: 28 February 1997

Published in: Journal of Economic Dynamics \& Control (Search for Journal in Brave)

Full work available at URL: http://www.kellogg.northwestern.edu/research/math/papers/1015.pdf

zbMATH Keywords

LearningMarkovStationary distributionMonopolistUnknown demand

Mathematics Subject Classification ID

Microeconomic theory (price theory and economic markets) (91B24)

Related Items (11)

Dynamic contracting under permanent and transitory private information ⋮ A perpetual search for talents across overlapping generations: a learning process ⋮ Optimal dynamic resource allocation to prevent defaults ⋮ Signal-jamming in the frequency domain ⋮ Learning about the arrival of sales ⋮ Optimality and renegotiation in dynamic contracting ⋮ Price experimentation with strategic buyers ⋮ Linear learning in changing environments ⋮ Imitation and experimentation in changing contests ⋮ A Bayesian learning model for estimating unknown demand parameter in revenue management ⋮ Learning by doing and the value of optimal experimentation

Cites Work

• Unnamed Item
• Periodic learning about a hidden state variable
• Finite state Markovian decision processes
• Controlling a Stochastic Process with Unknown Parameters
• Optimal Learning by Experimentation

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