摘要翻译:
我考虑目标信息结构的顺序实现。我刻画了满足每周期学习能力约束的所有信号过程所诱导的决策时间分布的集合。我发现所有的决策时间分布都具有相同的期望,并且按保持均值的扩展顺序的最大元素和最小元素是确定性分布和指数分布。结果表明,当时间偏好为风险偏好时(如标准贴现或双曲贴现),泊松信号是最优的,因为它诱导出最大风险的指数决策时间分布。当时间偏好是风险中性的(例如,延迟代价不变)时,所有信号过程都是同样最优的。
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英文标题:
《Time preference and information acquisition》
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作者:
Weijie Zhong
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最新提交年份:
2018
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分类信息:
一级分类:Economics 经济学
二级分类:Theoretical Economics 理论经济学
分类描述:Includes theoretical contributions to Contract Theory, Decision Theory, Game Theory, General Equilibrium, Growth, Learning and Evolution, Macroeconomics, Market and Mechanism Design, and Social Choice.
包括对契约理论、决策理论、博弈论、一般均衡、增长、学习与进化、宏观经济学、市场与机制设计、社会选择的理论贡献。
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英文摘要:
I consider the sequential implementation of a target information structure. I characterize the set of decision time distributions induced by all signal processes that satisfy a per-period learning capacity constraint. I find that all decision time distributions have the same expectation, and the maximal and minimal elements by mean-preserving spread order are deterministic distribution and exponential distribution. The result implies that when time preference is risk loving (e.g. standard or hyperbolic discounting), Poisson signal is optimal since it induces the most risky exponential decision time distribution. When time preference is risk neutral (e.g. constant delay cost), all signal processes are equally optimal.
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PDF链接:
https://arxiv.org/pdf/1809.05120