Experimentation, full revelation, and the monotone likelihood ratio property

Article Abstract:

A study of the decision making by an agent in a monopolistic environment with an uncertain demand curve and a consumer trying out a new product is presented. The model also examines the effect of the current actions on the current payoffs as well as the information available in future. An examination of the optimal action in respect of the current actions and future information, assumptions made, and the monotone likelihood ratio property is presented.

Monopolies, Demand functions (Economics), Demand functions

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Is more data better?

Article Abstract:

The efficacy of data used by an agent for decision-making is discussed. The effects of selection of the economic model for forecasting purposes are also discussed. The benefits of discarding old data under certain circumstances are analyzed.

Methods, Information management, Information accessibility

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Aspiration uncertainty: its impact on decision performance and process

Article Abstract:

The impact of variability in aspiration level on decision making is examined.

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