نتایج جستجو برای: change costs
تعداد نتایج: 755268 فیلتر نتایج به سال:
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 som...
The paper is concerned with the case whereby the distribution of a firm’s productivity shocks changes without the knowledge of the firm. Over time the firm learns about the nature and extent of the change in the distribution of the shock and adjusts, incurring adjustment costs in the process. The long run loss in profits (±) due to the shift in the distribution we term the equilibrium response....
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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