A. Soubeyran

Aix-Marseille University (Aix-Marseille School of Economics)‎ ‎CNRS & EHESS‎, ‎Chateau Lafarge‎, ‎route des Milles‎, ‎13290 Les Milles‎, ‎France.

[ 1 ] - Convergence in a sequential two stages decision making process

We analyze a sequential decision making process, in which at each stepthe decision is made in two stages. In the rst stage a partially optimalaction is chosen, which allows the decision maker to learn how to improveit under the new environment. We show how inertia (cost of changing)may lead the process to converge to a routine where no further changesare made. We illustrate our scheme with some...

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