{"id":{"repo_id":"uiuc","oai_identifier":"oai:www.ideals.illinois.edu:2142/19748"},"canonical_url":"https://search.dev.ndltd.org/etd/uiuc/oai:www.ideals.illinois.edu:2142/19748","repository":{"repo_id":"uiuc","name":"University of Illinois - Urbana-Champaign","base_url":"https://www.ideals.illinois.edu/oai-pmh"},"display":{"title":"\"Learning and experimentation in a \"\"principal-agent\"\" framework\"","abstract":"The purpose of this work is to introduce learning and experimenting in a principal-agent model, where the agent has some private information which is valuable for the principal. Intuitively this should lead the principal to experiment in order to improve his knowledge. For this to be possible the information must be partially revealed by some observable output correlated with the agent's action; furthermore, the principal has to have some way to influence the agent's choices, or else he would not be able to experiment but only be a passive learner.","abstract_html":"The purpose of this work is to introduce learning and experimenting in a principal-agent model, where the agent has some private information which is valuable for the principal. Intuitively this should lead the principal to experiment in order to improve his knowledge. For this to be possible the information must be partially revealed by some observable output correlated with the agent's action; furthermore, the principal has to have some way to influence the agent's choices, or else he would not be able to experiment but only be a passive learner.","abstract_has_math":false,"creators":["Salgueiro, Egas Manuel Da Silva"],"institution":"University of Illinois at Urbana-Champaign","degree_name":"Ph.D.","degree_level":"Dissertation","degree_discipline":"Economics","degree_department":null,"school":null,"contributors":["Baer, Werner W."],"advisors":[],"committee_chairs":[],"committee_members":[],"year":2011,"date_issued":"2011-05-07T12:17:16Z","date_published":"2011-05-07T12:17:16Z","updated_at":"2026-07-22T22:25:14Z","subjects":["Economics, General","Education, Adult and Continuing"],"languages":["eng"],"rights":["Copyright 1991 Salgueiro, Egas Manuel Da Silva"],"rights_urls":[],"identifier_entries":[{"key":"dc:identifier","label":"Identifier","values":["AAI9210974","(UMI)AAI9210974"],"render_values":[{"text":"AAI9210974","href":null,"code":true},{"text":"(UMI)AAI9210974","href":null,"code":true}]}]},"links":{"outbound_url":"http://hdl.handle.net/2142/19748","outbound_label":"Handle","outbound_source":"dc:identifier"},"metadata_groups":[{"id":"people","label":"People","entries":[{"key":"dc:contributor","label":"Contributor","values":["Baer, Werner W."]},{"key":"dc:creator","label":"Author","values":["Salgueiro, Egas Manuel Da Silva"]}]},{"id":"academic_context","label":"Academic Context","entries":[{"key":"dc:date","label":"Dc Date","values":["2011-05-07T12:17:16Z","10000-01-01","1991"]},{"key":"dc:type","label":"Dc Type","values":["text"]},{"key":"thesis:degree_discipline","label":"Discipline","values":["Economics"]},{"key":"thesis:degree_level","label":"Degree Level","values":["Dissertation"]},{"key":"thesis:degree_name","label":"Degree Name","values":["Ph.D."]},{"key":"thesis:institution_name","label":"Thesis Institution Name","values":["University of Illinois at Urbana-Champaign"]}]},{"id":"subjects_keywords","label":"Subjects and Keywords","entries":[{"key":"dc:subject","label":"Dc Subject","values":["Economics, General","Education, Adult and Continuing"]}]},{"id":"language_rights","label":"Language and Rights","entries":[{"key":"dc:language","label":"Dc Language","values":["eng"]},{"key":"dc:rights","label":"Dc Rights","values":["Copyright 1991 Salgueiro, Egas Manuel Da Silva"]}]},{"id":"identifiers","label":"Identifiers","entries":[{"key":"dc:identifier","label":"Identifier","values":["AAI9210974","(UMI)AAI9210974","http://hdl.handle.net/2142/19748"]}]},{"id":"additional","label":"Additional Metadata","entries":[{"key":"dc:description","label":"Description","values":["The purpose of this work is to introduce learning and experimenting in a principal-agent model, where the agent has some private information which is valuable for the principal. Intuitively this should lead the principal to experiment in order to improve his knowledge. For this to be possible the information must be partially revealed by some observable output correlated with the agent's action; furthermore, the principal has to have some way to influence the agent's choices, or else he would not be able to experiment but only be a passive learner.","With these characteristics, experimenting in such a principal-agent model should not be very different from experimenting a new consumer good. The innovative point arises from allowing the agent to react to experimentation. This should occur the agent being rational enough and having an incentive to keep his information private. As will be seen the most rational agent will try to blur the experiments carried by the principal and in some situations the equilibrium level of learning might be significantly impaired.","A simple example of a principal-agent model with experimentation will be formulated and analyzed thoroughly. Several interesting results will be shown and the optimal behavior of both principal and agent will be derived and explained.","A more general model is then introduced requiring the use of more sophisticated mathematical tools to prove the validity of the previous results. However, in some cases, this could not be attained.","Made available in DSpace on 2011-05-07T12:17:16Z (GMT). No. of bitstreams: 2 license.txt: 4922 bytes, checksum: 910b249b4beec47e7ab768910c8f966f (MD5) 9210974.pdf: 2576786 bytes, checksum: d6bc444dde59e1911f5892a6135481a3 (MD5) Previous issue date: 1991","Item marked as restricted to the 'UIUC Users [automated]' Group (id=2) by Howard Ding (hding2@illinois.edu) on 2011-05-07T14:39:10Z Item is restricted indefinitely.","Restriction data tranferred 2014-07-01T11:16:26-05:00 Original Data Group with Access UIUC Users [automated] Release Date: none Reason: ETDs are only available to UIUC Users without author permission","ETDs are only available to UIUC Users without author permission","U of I Only"]},{"key":"dc:title","label":"Title","values":["\"Learning and experimentation in a \"\"principal-agent\"\" framework\""]}]}],"canonical_facts":{"dc:contributor":["Baer, Werner W."],"dc:creator":["Salgueiro, Egas Manuel Da Silva"],"dc:date":["2011-05-07T12:17:16Z","10000-01-01","1991"],"dc:description":["The purpose of this work is to introduce learning and experimenting in a principal-agent model, where the agent has some private information which is valuable for the principal. Intuitively this should lead the principal to experiment in order to improve his knowledge. For this to be possible the information must be partially revealed by some observable output correlated with the agent's action; furthermore, the principal has to have some way to influence the agent's choices, or else he would not be able to experiment but only be a passive learner.","With these characteristics, experimenting in such a principal-agent model should not be very different from experimenting a new consumer good. The innovative point arises from allowing the agent to react to experimentation. This should occur the agent being rational enough and having an incentive to keep his information private. As will be seen the most rational agent will try to blur the experiments carried by the principal and in some situations the equilibrium level of learning might be significantly impaired.","A simple example of a principal-agent model with experimentation will be formulated and analyzed thoroughly. Several interesting results will be shown and the optimal behavior of both principal and agent will be derived and explained.","A more general model is then introduced requiring the use of more sophisticated mathematical tools to prove the validity of the previous results. However, in some cases, this could not be attained.","Made available in DSpace on 2011-05-07T12:17:16Z (GMT). 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