Supplementary Material : “ Optimal Design for Social Learning ”
نویسنده
چکیده
Given the optimality of revealing good news whenever it is received, we can without loss focus on the agents’ check in times and their experimentation decisions as the two control variables. The optimal policy is therefore described by a process (Xt, αt)t where Xt ≤ t is the right-continuous measure of all agents that have checked in by time t, and αt ∈ [0, 1] is the probability of consumption (or experimentation) by agents who check in at time t, conditional on having received no news by t. As will be seen below, the set of all such processes is not rich enough to admit an optimal mechanism. We thus consider a richer space of policies.
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