We introduce learning in a Brock-Mirman environment and study the effect of risk generated by the planner's econometric activity on optimal consumption and investment. Here, learning introduces two sources of risk about future payoffs: structural uncertainty and uncertainty from the anticipation...

We introduce learning in a Brock–Mirman environment and study the effect of risk generated by the planner’s econometric activity on optimal consumption and investment. Here, learning introduces two sources of risk about future payoffs: structural uncertainty and uncertainty due to the...

We study how learning affects an uninformed monopolist's supply and investment decisions under multiplicative uncertainty in demand. The monopolist is uninformed because it does not know one of the parameters defining the distribution of the random demand. Observing prices reveals this...