Learning While Searching for the Beat Alternative
AbstractThis paper delovers the solution to an optimal search problem with learning where the searcher has distinguishable search opportunities. The optimal sampling strategy is characterized by simple reservation prices that determine which of the search alternatives to sample and when to stop search.
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Bibliographic InfoPaper provided by European University Institute in its series Economics Working Papers with number eco99/4.
Length: 42 pages
Date of creation: 1999
Date of revision:
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More information through EDIRC
LEARNING ; UNCERTAINTY ; RISK;
Other versions of this item:
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
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