Job Market Seminar by Tatiana Mayskaya (California Institute of Technology)

On Thursday, December 22 at 2.00 pm, ICEF and FES held the Job Market Seminar.
Speaker: Tatiana Mayskaya (California Institute of Technology)
Theme: "Dynamic Choice of Information Sources"

Abstract: I characterize the unique optimal learning strategy when there are two information sources, three possible states of the world and the learning is modeled as a search process. The optimal strategy consists of two phases. On the first phase, only the beliefs about the state and the quality of the information sources matter for the optimal choice between these sources. On the second phase, this choice also depends on how much the agent values different types of information. The information sources are substitutes when each source individually is likely to be enough to reveal the state eventually, and they are complements otherwise.

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