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Author: Godfrey Keller
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Godfrey Keller and Sven Rady
We study the evolution of prices in a symmetric duopoly where firms are uncertain about the degree of product differentiation. Customers sometimes perceive the products as close substitutes, sometimes as highly different...Read more...
July 1999
This paper studies optimal experimentation by a monopolist who faces an unknown demand curve subject to random changes, and who maximises profits over an infinite horizon in continuous time. We show that there are two qu...Read more...
July 1997
Alison Hole and Godfrey Keller
This paper presents a model of a search process for the best outcome of many multi-stage projects. The branching structure of the search environment is such that the pay-offs to various actions are correlated; neverthele...Read more...
1994