The value of (bounded) memory in a changing world

dc.contributorFGV
dc.creatorMonte, Daniel
dc.creatorSaid, Maher
dc.date.accessioned2018-05-10T13:36:32Z
dc.date.accessioned2022-11-03T20:17:47Z
dc.date.available2018-05-10T13:36:32Z
dc.date.available2022-11-03T20:17:47Z
dc.date.created2018-05-10T13:36:32Z
dc.date.issued2014-05
dc.identifier0197-4254 / 1573-9678
dc.identifierhttp://hdl.handle.net/10438/23384
dc.identifier10.1007/s00199-013-0771-1
dc.identifier000334421900003
dc.identifier.urihttps://repositorioslatinoamericanos.uchile.cl/handle/2250/5035541
dc.description.abstractThis paper explores the value of memory in decision making in dynamic environments. We examine the decision problem faced by an agent with bounded memory who receives a sequence of signals from a partially observable Markov decision process. We characterize environments in which the optimal memory consists of only two states. In addition, we show that the marginal value of additional memory states need not be positive and may even be negative in the absence of free disposal.
dc.languageeng
dc.publisherSpringer
dc.relationEconomic theory
dc.rightsrestrictedAccess
dc.sourceWeb of Science
dc.subjectBounded memory
dc.subjectDynamic decision making
dc.subjectPartially observable
dc.subjectMarkov decision process
dc.titleThe value of (bounded) memory in a changing world
dc.typeArticle (Journal/Review)


Este ítem pertenece a la siguiente institución