We study signal-dependent experimentation in the presence of accumulation
and show that the passive-learner’s action surprisingly coincides with
the experimentor’s when the unknown term is the one determining the decay
rate of the stock, while they differ when the parameter being learned is
the one measuring the accumulation rate. These results highlight the importance
of the dynamic structure of the problem in signal-dependent experimentation.
Moreover, they have important consequences for the pollution-accumulation
debate currently in progress
