Arbeitspapier
The ignorant monopolist redux
The classical problem of the monopolist faced with an unknown demand curve is considered in a simple stochastic setting. Sequential pricing strategies designed to maximize discounted profits are shown to converge sufficiently rapidly that they leave the monopolist ignorant about all but the most local features of demand. The failure of the monopolist to "learn" his demand curve would seem to call into question some standard assumptions about agents' grasp of their economic environment.
- Language
-
Englisch
- Bibliographic citation
-
Series: cemmap working paper ; No. CWP57/19
- Classification
-
Wirtschaft
- Subject
-
Stochastic approximation
Statistical learning
Demand analysis
- Event
-
Geistige Schöpfung
- (who)
-
Koenker, Roger
- Event
-
Veröffentlichung
- (who)
-
Centre for Microdata Methods and Practice (cemmap)
- (where)
-
London
- (when)
-
2019
- DOI
-
doi:10.1920/wp.cem.2019.5719
- Handle
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Koenker, Roger
- Centre for Microdata Methods and Practice (cemmap)
Time of origin
- 2019
Other Objects (12)
Public Employment Redux
Trade and Productivity: The Family Connection Redux
Oil and Blood in the Orient, Redux
Trade and productivity: The family connection redux
Long-run money demand redux
International Capital Allocations and the Lucas Paradox Redux
Reform redux: measurement, determinants and reversals
Is increased price flexibility stabilizing? Redux
On ignorant voters and busy politicians
Mother Africa's Exceptionalism? Income and Fertility Redux
Exchange Rate Expectations Redux and Monetary Policy
What Did the Old Poor Law Really Accomplish? A Redux
Public Employment Redux
Trade and Productivity: The Family Connection Redux
Oil and Blood in the Orient, Redux
Trade and productivity: The family connection redux
Long-run money demand redux
International Capital Allocations and the Lucas Paradox Redux
Reform redux: measurement, determinants and reversals
Is increased price flexibility stabilizing? Redux
On ignorant voters and busy politicians
Mother Africa's Exceptionalism? Income and Fertility Redux
Exchange Rate Expectations Redux and Monetary Policy
What Did the Old Poor Law Really Accomplish? A Redux
Public Employment Redux
Trade and Productivity: The Family Connection Redux
Oil and Blood in the Orient, Redux
Trade and productivity: The family connection redux
Long-run money demand redux
International Capital Allocations and the Lucas Paradox Redux
Reform redux: measurement, determinants and reversals
Is increased price flexibility stabilizing? Redux
On ignorant voters and busy politicians
Mother Africa's Exceptionalism? Income and Fertility Redux
Exchange Rate Expectations Redux and Monetary Policy