Prolonged Learning and Hasty Stopping: The Wald Problem with Ambiguity.
This paper studies sequential information acquisition by an ambiguity-averse decision-maker (DM), who decides how long to collect information before taking an irreversible action. The agent optimizes against the worst-case belief and updates prior by prior. We show that the consideration of ambiguit...
| Publicado en: | American Economic Review Vol. 114; no. 2; pp. 426 - 462 |
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| Autores principales: | , , |
| Formato: | Artículo |
| Publicado: |
American Economic Association
Feb2024
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| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |