کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
10474794 | 928593 | 2005 | 21 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Optimal guessing: Choice in complex environments
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
In this paper, we extend the analysis of our earlier work on boundedly rational learning in an i.i.d. setting [Easley and Rustichini, Econometrica 67 (1999) 1157-1184] to complex decision problems. We show that the axioms from our earlier analysis can be applied in this more complex setting, and along with some new axioms, they asymptotically yield expected utility maximization. Perhaps most important is our demonstration of a simple procedure that insures expected payoff maximization no matter what Markov process the underlying process on states follows. We view this result as providing a positive learning result for all worlds in which learning is possible.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Economic Theory - Volume 124, Issue 1, September 2005, Pages 1-21
Journal: Journal of Economic Theory - Volume 124, Issue 1, September 2005, Pages 1-21
نویسندگان
David Easley, Aldo Rustichini,