WebWe consider the problem of optimal dynamic information acquisition from many correlated information sources. Each period, the decision-maker jointly takes an action and allocates a fixed number of observations across the available sources. His payoff depends on the actions taken and on an unknown state. In the canonical setting of jointly normal … Weba benchmark with fully flexible information acquisition, the optimal strategy applies to more general settings where information acquisition is not fully flexible, but involves these salient aspects. The main intuition behind the optimal strategy is a novel precision …
Optimal Dynamic Information Acquisition
Weboptimally acquire information from the sources over time. Using our characterization of the decision-makers’ optimal information acquisition strategy, we derive the sources’ …Webper, information acquisition decisions are driven by learning concerns exclusively, and the exploration-exploitation trade-o↵central to bandit models does not appear.3 We primarily build on a large literature about optimal dynamic information acquisition. In contrast to an earlier focus in the literature on the choice of signal precisions ... gatwick airport shuttle to hotels
EconPapers: Optimal Dynamic Information Acquisition
WebInformation is acquired continuously -- where the agent chooses both which sources to sample from, and also how to allocate attention across them -- until an endogenously chosen time, at which point a decision is taken.WebApr 12, 2024 · In this study, we aimed to provide an accurate method for the detection of oil and moisture content in soybeans. Introducing two-dimensional low-field nuclear magnetic resonance (LF-2D-NMR) qualitatively solved the problem of overlapping component signals that one-dimensional (1D) LF-NMR techniques cannot distinguish in soybean detection … WebMyopic information acquisition corresponds to (history-independent) acquisition of signals that maximize next-period precision of beliefs. We identify a canonical class of informational environments (normal-linear), in which the optimal dynamic information acquisition rule is myopic from period 1 when agents sample suf- ficiently many signals ...daycares in the bronx