IDEAS home Printed from https://ideas.repec.org/a/eee/jetheo/v113y2003i2p302-315.html
   My bibliography  Save this article

Branching bandits: a sequential search process with correlated pay-offs

Author

Listed:
  • Keller, Godfrey
  • Oldale, Alison

Abstract

No abstract is available for this item.

Suggested Citation

  • Keller, Godfrey & Oldale, Alison, 2003. "Branching bandits: a sequential search process with correlated pay-offs," Journal of Economic Theory, Elsevier, vol. 113(2), pages 302-315, December.
    • Handle: RePEc:eee:jetheo:v:113:y:2003:i:2:p:302-315
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0022-0531(03)00092-9
    Download Restriction: Full text for ScienceDirect subscribers only
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Roberts, Kevin & Weitzman, Martin L, 1981. "Funding Criteria for Research, Development, and Exploration Projects," Econometrica, Econometric Society, vol. 49(5), pages 1261-1288, September.
    2. Philippe Aghion & Patrick Bolton & Christopher Harris & Bruno Jullien, 1991. "Optimal Learning by Experimentation," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 58(4), pages 621-654.
    3. Rothschild, Michael, 1974. "A two-armed bandit theory of market pricing," Journal of Economic Theory, Elsevier, vol. 9(2), pages 185-202, October.
    4. Banks, Jeffrey S & Sundaram, Rangarajan K, 1994. "Switching Costs and the Gittins Index," Econometrica, Econometric Society, vol. 62(3), pages 687-694, May.
    5. Bergemann, Dirk & Valimaki, Juuso, 2001. "Stationary multi-choice bandit problems," Journal of Economic Dynamics and Control, Elsevier, vol. 25(10), pages 1585-1594, October.
    6. Weitzman, Martin L, 1979. "Optimal Search for the Best Alternative," Econometrica, Econometric Society, vol. 47(3), pages 641-654, May.
    7. Banks, Jeffrey S & Sundaram, Rangarajan K, 1992. "Denumerable-Armed Bandits," Econometrica, Econometric Society, vol. 60(5), pages 1071-1096, September.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Eric M. Schwartz & Eric T. Bradlow & Peter S. Fader, 2017. "Customer Acquisition via Display Advertising Using Multi-Armed Bandit Experiments," Marketing Science, INFORMS, vol. 36(4), pages 500-522, July.
    2. Hedyeh Beyhaghi & Linda Cai, 2023. "Recent Developments in Pandora's Box Problem: Variants and Applications," Papers 2308.12242, arXiv.org.
    3. Greminger, Rafael, 2019. "Optimal Search and Awareness Expansion," Other publications TiSEM ac47e6ff-42a4-4d70-addd-6, Tilburg University, School of Economics and Management.
    4. Pavan, Alessandro & Fershtman, Daniel, 2020. "Sequential Learning with Endogenous Consideration Sets," CEPR Discussion Papers 15018, C.E.P.R. Discussion Papers.
    5. Greminger, Rafael, 2019. "Optimal Search and Awareness Expansion," Discussion Paper 2019-034, Tilburg University, Center for Economic Research.
    6. Bryan, Kevin A. & Lemus, Jorge, 2017. "The direction of innovation," Journal of Economic Theory, Elsevier, vol. 172(C), pages 247-272.
    7. Christoph Carnehl & Johannes Schneider, 2021. "On Risk and Time Pressure: When to Think and When to Do," Papers 2111.07451, arXiv.org, revised Mar 2022.
    8. Rafael P. Greminger, 2019. "Optimal Search and Discovery," Papers 1911.07773, arXiv.org, revised Feb 2022.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Klimenko, Mikhail M., 2004. "Industrial targeting, experimentation and long-run specialization," Journal of Development Economics, Elsevier, vol. 73(1), pages 75-105, February.
    2. Shaun Larcom & Ferdinand Rauch & Tim Willems, 2017. "The Benefits of Forced Experimentation: Striking Evidence from the London Underground Network," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 132(4), pages 2019-2055.
    3. Elena Pastorino, 2004. "Optimal Job Design and Career Dynamics in the Presence of Uncertainty," Econometric Society 2004 North American Summer Meetings 292, Econometric Society.
    4. Agbo, Maxime, 2015. "A perpetual search for talents across overlapping generations: A learning process," Mathematical Social Sciences, Elsevier, vol. 76(C), pages 131-145.
    5. Roland Fryer & Philipp Harms, 2018. "Two-Armed Restless Bandits with Imperfect Information: Stochastic Control and Indexability," Mathematics of Operations Research, INFORMS, vol. 43(2), pages 399-427, May.
    6. Keller, Godfrey & Novák, Vladimír & Willems, Tim, 2019. "A note on optimal experimentation under risk aversion," Journal of Economic Theory, Elsevier, vol. 179(C), pages 476-487.
    7. Asaf Cohen & Eilon Solan, 2013. "Bandit Problems with Lévy Processes," Mathematics of Operations Research, INFORMS, vol. 38(1), pages 92-107, February.
    8. Bergemann, Dirk & Valimaki, Juuso, 2001. "Stationary multi-choice bandit problems," Journal of Economic Dynamics and Control, Elsevier, vol. 25(10), pages 1585-1594, October.
    9. Bergemann, Dirk & Valimaki, Juuso, 1996. "Learning and Strategic Pricing," Econometrica, Econometric Society, vol. 64(5), pages 1125-1149, September.
    10. Sorensen, Morten, 2007. "Learning by Investing: Evidence from Venture Capital," SIFR Research Report Series 53, Institute for Financial Research.
    11. Forand, Jean Guillaume, 2015. "Keeping your options open," Journal of Economic Dynamics and Control, Elsevier, vol. 53(C), pages 47-68.
    12. Deishin Lee & Eric Van den Steen, 2010. "Managing Know-How," Management Science, INFORMS, vol. 56(2), pages 270-285, February.
    13. Benkert, Jean-Michel & Letina, Igor & Nöldeke, Georg, 2018. "Optimal search from multiple distributions with infinite horizon," Economics Letters, Elsevier, vol. 164(C), pages 15-18.
    14. B. Luppi, 2003. "Experimentation and Disappointment," Working Papers 493, Dipartimento Scienze Economiche, Universita' di Bologna.
    15. Alessandro Arlotto & Stephen E. Chick & Noah Gans, 2014. "Optimal Hiring and Retention Policies for Heterogeneous Workers Who Learn," Management Science, INFORMS, vol. 60(1), pages 110-129, January.
    16. Ke, T. Tony & Villas-Boas, J. Miguel, 2019. "Optimal learning before choice," Journal of Economic Theory, Elsevier, vol. 180(C), pages 383-437.
    17. Catherine Bobtcheff & Christian Gollier & Richard Zeckhauser, 2008. "Resource allocations when projects have ranges of increasing returns," Journal of Risk and Uncertainty, Springer, vol. 37(1), pages 93-93, August.
    18. Alejandro Núnez Arroyo, 2018. "Information seeking with selective memory," Documentos CEDE 17131, Universidad de los Andes, Facultad de Economía, CEDE.
    19. Karén Hovhannissian & Marco Valente, 2004. "Modeling Directed Local Search Strategies on Technology Landscapes: Depth and Breadth," ROCK Working Papers 028, Department of Computer and Management Sciences, University of Trento, Italy, revised 17 Jun 2008.
    20. José Niño-Mora, 2020. "Fast Two-Stage Computation of an Index Policy for Multi-Armed Bandits with Setup Delays," Mathematics, MDPI, vol. 9(1), pages 1-36, December.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:jetheo:v:113:y:2003:i:2:p:302-315. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/inca/622869 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.