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A simple approach to identifying the incentives for policy experimentation.

Abstract:
We present a simple concavity condition that describes the incentives for a policy maker to pursue policy experiments. Our approach avoids the computational cost of numerical methods that fully characterise optimal experimentation under learning.

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Authors


Martin Ellison More by this author
Jouko Vilmunen More by this author
Journal:
Economics Letters
Volume:
86
Issue:
2
Publication date:
2005-02-05
DOI:
URN:
uuid:dbcc4a28-4e24-4ce4-9467-accdf721fd7e
Local pid:
oai:economics.ouls.ox.ac.uk:15143
Language:
English

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