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| Author: | Brock, W.A. |
| Title: | Profiling problems with partially identified structure |
| Journal: | Economic Journal
2006 : NOV, VOL. 116:515, p. F427-F440 |
| Index terms: | optimization welfare planning models |
| Language: | eng |
| Abstract: | This article studies two classes of profiling problems where the relevant structural inputs to the problems may be only partially identified. The analysis is unified by assuming there is a utilitarian planner that attempts to optimize the sum of welfare. Maximin solutions and minimax-regret (here as: m-m-r.) solutions in two contexts are compared. An unexpected feature of the m-m-r. solution is that a m-m-r. planner may end up learning unknown features of the population it faces rather quickly relative to a maximin planner. |
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