Abstract
In chapters 2 and 3, we presented a model of sequential choice with uncertainty and learning. Our aim was to provide a framework for the simultaneous treatment of various economic phenomena that are consequences of the interplay of irreversibility and uncertainty. Here irreversibility was interpreted in a very broad sense meaning that today’s choice influences tomorrow’s choice possibilities (though sometimes we specialized to the case that there exist choices that completely determine tomorrow’s choice).
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© 1991 Springer-Verlag Berlin Heidelberg
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Schmutzler, A. (1991). A T-Period Model of Intertemporal Choice with Irreversibility and Uncertainty. In: Flexibility and Adjustment to Information in Sequential Decision Problems. Lecture Notes in Economics and Mathematical Systems, vol 371. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-95671-3_5
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DOI: https://doi.org/10.1007/978-3-642-95671-3_5
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-54645-0
Online ISBN: 978-3-642-95671-3
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