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econ.TH2024
Coarse Q-learning: Indifference, Indeterminacy, and Instability
Philippe Jehiel, Aviman Satpathy
We introduce Coarse Q-learning (CQL), a reinforcement-learning model for bandit problems with stochastically varying menus. Alternatives are exogenously partitioned into similarity…
econ.TH2021
Auction Design with Data-Driven Misspecifications
Philippe Jehiel, Konrad Mierendorff
We consider auction environments in which at the time of the auction bidders observe signals about their ex-post value. We introduce a model of novice bidders who do not know know…