This paper models an entrepreneur’s choice between investing in a safe activity or experimenting with a new risky one, and how much to invest in the “entrepreneurial capital” that would permit more effective use of the arriving information on the latter- how much to learn how to learn. Optimal investment in entrepreneurial capital depends the expected return on the risky activity. It can lead to three learning regimes, two of which can generate a...
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INFORMATION
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2021/12/20
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Document de travail de recherche sur les politiques
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WPS9890
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1
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1
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2021/12/20
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Disclosed
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Learning to Learn : Experimentation, Entrepreneurial Capital, and Development
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normal distribution with mean
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