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SUMMARY:Francisco Poggi (University of Mannheim) 02.11.2022
DTSTART;TZID=Europe/Berlin:20221102T120000
DTEND;TZID=Europe/Berlin:20221102T130000
DTSTAMP:20260519T210716Z
UID:c0fd60e42c214fa69add7c36127b421d@www.econ.uni-bonn.de
CREATED:20221027T152203Z
DESCRIPTION:This paper studies the dynamic completion of interrelated proj
 ects. A decision maker allocates\, at each point in time\, a fixed unit of
  attention to projects that are completed in the form of breakthroughs. Th
 e agent's final payoff depends on the set of completed projects at the cho
 sen stopping time. After completing a project\, the agent might regret the
  attention that was already allocated to an incomplete project. I construc
 t a partial order in the set of allocation policies that is based on regre
 t\, and show that the expected payoff of an allocation policy is increasin
 g in such order. Moreover\, I provide sufficient conditions in the distrib
 ution of completion times such that the optimal policy for complementary p
 rojects is regret-free. I apply these results to study the canonical probl
 em of two complementary projects with uncertain but constant rate of compl
 etion and characterise the optimal attention allocation policy in that cas
 e.
LAST-MODIFIED:20221130T094417Z
URL:https://www.econ.uni-bonn.de/micro/en/seminars/bgse-workshop/francisco
 -poggi-university-of-mannheim-02-11.2022
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