The ignorant monopolist redux
研究了垄断者在未知需求曲线下的简单随机定价问题，发现其序贯定价策略收敛很快，导致垄断者只了解需求的局部特征，质疑了经济主体完全掌握环境的假设。
Summary The classical problem of the monopolist faced with an unknown demand curve is considered in a simple stochastic setting. Sequential pricing strategies designed to maximize discounted profits are shown to converge sufficiently rapidly that they leave the monopolist ignorant about all but the most local features of demand. The failure of the monopolist to 'learn' his demand curve would seem to call into question some standard assumptions about agents’ grasp of their economic environment.