Colloquia & Seminars

Title: Colloquium

Colloquium

Title: Mathematical Economics Seminar

Speaker: Karun Adusumilli, University of Pennsylvania, Title: Continuous Time Asymptotic Representations for Adaptive Experiments Abstract: This article develops a continuous-time asymptotic framework for analyzing adaptive experiments—settings in which data collection and treatment assignment evolve dynamically in response to incoming information. Akey challenge in analyzing fully adaptive experiments, where the assignment policy is updated after each observation, is that the sequence of policy rules often lack a well-defined asymptotic limit. To address this, we focus instead on the empirical allocation process, which captures the (normalized) number of observations assigned to each treatment over time. We show that, under general conditions, any adaptive experiment and its associated empirical allocation process can be approximated by a limit experiment defined by Gaussian...