Bai, Guo;
(2023)
Essays in Learning and Information.
Doctoral thesis (Ph.D), UCL (University College London).
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Abstract
This thesis consists of three chapters that investigate how economic agents acquire information and learn from the information. I use theoretical models to understand information acquisition and learning. Chapter 1 studies how decision-makers acquire information when they compete for a first-mover advantage. I show that the first-mover advantage gives the decision-makers incentives to preempt. In equilibrium, decision-makers create strategic uncertainties on when they stop acquiring information and taking an action. Chapter 2 studies a single decision-maker’s search and learning problem in which the signals that can be obtained are binary. I show that the decision maker’s optimal strategy depends on her time risk attitude and her patience level. Chapter 3 investigates the question of whether a designer can learn how a decision-maker learns from information by observing the signals she receives and the actions she takes. It studies the probability of the designer learning the decision-maker’s prior and characterises the optimal payoff structure that maximises this probability.
| Type: | Thesis (Doctoral) |
|---|---|
| Qualification: | Ph.D |
| Title: | Essays in Learning and Information |
| Open access status: | An open access version is available from UCL Discovery |
| Language: | English |
| Additional information: | Copyright © The Author 2022. Original content in this thesis is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International (CC BY-NC 4.0) Licence (https://creativecommons.org/licenses/by-nc/4.0/). Any third-party copyright material present remains the property of its respective owner(s) and is licensed under its existing terms. Access may initially be restricted at the author’s request. |
| UCL classification: | UCL UCL > Provost and Vice Provost Offices > UCL SLASH UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS > Dept of Economics |
| URI: | https://discovery.ucl.ac.uk/id/eprint/10174737 |
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