Quality Uncertainty with Imperfect Information Acquisition
نویسندگان
چکیده
منابع مشابه
Imperfect information : Imprecision - Uncertainty Philippe
We can do everything. T What IS can do toady is highly limited. What we cannot do is Useless. R Useless confused with Cannot Be Done. So... why to worry about Uncertainty? U No future without using Uncertainty. T The Information Systems Radical. H The Uncertainty Zealot. Summary: This report surveys various forms of imperfect data, be it imprecision or uncertainty. To that end, a structured the...
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Base-rate neglect is a robust experimental finding that individuals do not update their prior beliefs according to the Bayes’ rule and, typically, underestimate their posterior probabilities. Another empirical finding is that individuals often do not acquire information even when there are no strategic considerations and the cost of new information is justifiable economically. This paper combin...
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Consumers or firms contemplating purchasing a new product or adopting a new technology are often plagued by uncertainty: Will the benefits outweigh the costs? Should we buy now or wait and gather more information? In this paper, we study a dynamic programming model of this technology adoption problem. In each period, the consumer decides whether to adopt the technology, reject it, or wait and g...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2013
ISSN: 1556-5068
DOI: 10.2139/ssrn.2342410