Learning While Searching for the Best Alternative
This 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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- Glazebrook, K. D., 1976. "A profitability index for alternative research projects," Omega, Elsevier, vol. 4(1), pages 79-83.
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- Slonim, Robert, 1994. "Learning in a search-for-the-best-alternative experiment," Journal of Economic Behavior & Organization, Elsevier, vol. 25(2), pages 141-165, October.
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- Gabriel Talmain & Chien-Fu Chou, 1990. "Non-Parametric Search," Discussion Papers 92-01, University at Albany, SUNY, Department of Economics.
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