Profiling problems with partially identified structure
AbstractThis article studies two classes of profiling problems where the relevant structural inputs to the problems may be only partially identified: that where profilees are not 'strategic' in altering their characteristics and that where profilees strategically alter their characteristics at a cost. The analysis is unified by assuming there is a utilitarian planner that attempts to optimise the sum of welfare. We compare maximin solutions and minimax-regret solutions in two contexts. An unexpected feature of the minimax-regret solution is that a minimax-regret planner may end up learning unknown features of the population it faces rather quickly relative to a maximin planner. Copyright 2006 The Author(s). Journal compilation Royal Economic Society 2006.
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Bibliographic InfoPaper provided by Wisconsin Madison - Social Systems in its series Working papers with number 21.
Date of creation: 2004
Date of revision:
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Postal: UNIVERSITY OF WISCONSIN MADISON, SOCIAL SYSTEMS RESEARCH INSTITUTE(S.S.R.I.), MADISON WISCONSIN 53706 U.S.A.
Other versions of this item:
- William A. Brock, 2006. "Profiling Problems With Partially Identified Structure," Economic Journal, Royal Economic Society, vol. 116(515), pages F427-F440, November.
- NEP-ALL-2005-10-16 (All new papers)
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