Actively Learning by Pricing: A Model of an Experimenting Seller
构建了一个理性卖家通过定价策略主动学习需求曲线斜率的模型，解释了价格离散性、个体价格灵活性与总体价格粘性的共存，以及价格比成本更波动的现象。
This paper presents a model of a rational seller who is actively learning the slope of his demand curve via his pricing strategy. Consequently, this seller optimally experiments with his price. Resulting price patterns show a lot of discreteness (as observed in the data), which has proved to be a major challenge to most price setting models. This model's learning dynamics are able to reconcile individual price flexibility with aggregate price sluggishness, while the experimentation motive can explain the presence of many idiosyncratic price changes in the data as well as the observation that prices are more volatile than costs.