Resource title

Experimentation and Learning in Repeated Cooperation

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Resource description

We study an agency model, in which the principal has only incomplete information about the agent's preferences, in a dynamic setting. Through repeated interaction with the agent, the principal learns about the agent's preferences and can thus adjust the inventive system. In a dynamic computational model, we compare different learning strategies of the principal when facing different types of agents. The results indicate the importance of a correct specification of the agent's preferences. (author's abstract) ; Series: Working Papers SFB "Adaptive Information Systems and Modelling in Economics and Management Science"

Resource author

Rudolf Vetschera

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Resource publish date

Resource language

en

Resource content type

application/pdf

Resource resource URL

http://epub.wu.ac.at/78/1/document.pdf

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