Convergence in a sequential two stages decision making process

Juan Enrique Martínez Legaz; A. Soubeyran

Convergence in a sequential two stages decision making process

Juan Enrique Martínez Legaz, A. Soubeyran

Departament d'Economia i d'Història Econòmica

TELEMME, Aix-Marseille Université / CNRS

Producció científica: Contribució a revista › Article › Recerca › Avaluat per experts

Resum

We analyze a sequential decision making process, in which at each step the decision is made in two stages. In the first stage a partially optimal action is chosen, which allows the decision maker to learn how to improve it under the new environment. We show how inertia (cost of changing) may lead the process to converge to a routine where no further changes are made. We illustrate our scheme with some economic models.

Idioma original	Anglès
Revista	Bulletin of the Iranian Mathematical Society
Estat de la publicació	Publicada - 2016

Accés al document

https://ddd.uab.cat/record/186474

OPTIMIZACIÓN VARIACIONAL: ESTRUCTURA Y DUALIDAD
Martinez Legaz, J. E. (PI), Daniilidis , A. (Co-Investigador/a Principal), Alabert Romero, A. (Investigador/a), Bolte, J. (Investigador/a), Ferrer Biosca, A. F. B. (Investigador/a), Gómez Pujalte, M. (Investigador/a) & Martinez Legaz, J. E. (Investigador/a)
1/01/12 → 31/12/15
Projecte: Projectes i Ajuts a la Recerca

Com citar-ho

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title = "Convergence in a sequential two stages decision making process",

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AU - Soubeyran, A.

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AB - We analyze a sequential decision making process, in which at each step the decision is made in two stages. In the first stage a partially optimal action is chosen, which allows the decision maker to learn how to improve it under the new environment. We show how inertia (cost of changing) may lead the process to converge to a routine where no further changes are made. We illustrate our scheme with some economic models.

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KW - Costs to change

KW - Convergence2002-

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SN - 1018-6301

JO - Bulletin of the Iranian Mathematical Society

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Convergence in a sequential two stages decision making process

Resum

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OPTIMIZACIÓN VARIACIONAL: ESTRUCTURA Y DUALIDAD

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