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- W1550651505 abstract "We study optimal growth under learning. We extend the Mirman-Zilcha stochastic growth results characterizing optimal programs for general utility and production functions to the case of learning. We then use recursive methods to study the effect of learning on the dynamic program by considering the case of iso-elastic utility and linear production, for general distributions of the random shocks and beliefs (i.e., without the use of conjugate priors), for any horizon. Finally, we address the issue of experimentation by providing a solution to an infinite-horizon optimal dynamic program." @default.
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- W1550651505 date "2013-01-01" @default.
- W1550651505 modified "2023-09-27" @default.
- W1550651505 title "On Learning and Growth" @default.
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- W1550651505 doi "https://doi.org/10.2139/ssrn.2343857" @default.
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