Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/158947
Authors: 
Agliardi, Elettra
Year of Publication: 
1991
Series/Report no.: 
Quaderni - Working Paper DSE 104
Abstract: 
In this paper we study the choice of competing technologies with increasing returns occasioned by learning-by-doing and learning-by-using phenomena. We study under what circumstances one technology can achieve a monopoly and eventually take the whole market by formulating a firm's optimal decision problem, when both uncertainty and increasing returns to adoption are present, In contrast with Arthur (1989) we allow agente to learn: the formulation of the decision problem takes into account the revision of the probabilities on the future states of the adoption process, according to a version of the two-armed bandit problem.
Persistent Identifier of the first edition: 
Creative Commons License: 
https://creativecommons.org/licenses/by-nc/3.0/
Document Type: 
Working Paper

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