The effect of information in separable Bayesian semi-Markov control models and its application to investment planning

Rudi Zagst

doi:10.1007/BF01432360

The effect of information in separable Bayesian semi-Markov control models and its application to investment planning

Rudi Zagst

University of Ulm

Research output: Contribution to journal › Article › peer-review

1 Scopus citations

Abstract

We consider a separable Bayesian semi-Markov control model to describe economic decisions under uncertainty. Our main interest is to examine the influence of the possibility of learning on the economic decisions and on the total expected return in a multi-period framework. We make use of the concept of Blackwell-sufficiency and apply the results to multi-period investment planing under uncertainty.

Original language	English
Pages (from-to)	277-288
Number of pages	12
Journal	ZOR Zeitschrift fü Operations Research Methods and Models of Operations Research
Volume	41
Issue number	3
DOIs	https://doi.org/10.1007/BF01432360
State	Published - Oct 1995
Externally published	Yes

Keywords

Bayesian information models
Bayesian semi-Markov control models
Blackwell sufficiency
Bounds
Effects of information and learning effects
Multi-period investment planning under uncertainty

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10.1007/BF01432360

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abstract = "We consider a separable Bayesian semi-Markov control model to describe economic decisions under uncertainty. Our main interest is to examine the influence of the possibility of learning on the economic decisions and on the total expected return in a multi-period framework. We make use of the concept of Blackwell-sufficiency and apply the results to multi-period investment planing under uncertainty.",

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KW - Blackwell sufficiency

KW - Bounds

KW - Effects of information and learning effects

KW - Multi-period investment planning under uncertainty

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ER -

The effect of information in separable Bayesian semi-Markov control models and its application to investment planning

Abstract

Keywords

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