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A Note on Convergence of Adaptive Satisficing to Optimal Stopping

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Author Info
John Conlisk
Abstract

The model concerns a searcher making multiple searches from the same distribution of payoffs. The searcher does not know the distribution, does not attempt to infer it from cumulating information, and does not attempt to compute an optimal stopping rule. Instead the searcher follows thoroughly elementary adaptive rules. Nonetheless, the searcher converges to optimal stopping.

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Article provided by University of Chicago Press in its journal Journal of Political Economy.

Volume (Year): 111 (2003)
Issue (Month): 6 (December)
Pages: 1353-1360
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Handle: RePEc:ucp:jpolec:v:111:y:2003:i:6:p:1353-1360

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