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Reservation Prices in Optimal Stopping

Author

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  • Atle Seierstad

    (University of Oslo, Blindern, Oslo, Norway)

Abstract

In an optimal stopping problem where bids on an asset are received, conditions are given that ensure the so-called reservation price property, namely, if a certain price is accepted, then any higher price would also have been accepted at that point in time. The approach followed in this paper is similar to that pursued by D. B. Rosenfield and R. D. Shapiro in 1981.

Suggested Citation

  • Atle Seierstad, 1992. "Reservation Prices in Optimal Stopping," Operations Research, INFORMS, vol. 40(2), pages 409-415, April.
    • Handle: RePEc:inm:oropre:v:40:y:1992:i:2:p:409-415
    DOI: 10.1287/opre.40.2.409
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    Cited by:

    1. Chun, Young H. & Plante, Robert D. & Schneider, Helmut, 2002. "Buying and selling an asset over the finite time horizon: A non-parametric approach," European Journal of Operational Research, Elsevier, vol. 136(1), pages 106-120, January.
    2. Gershkov, Alex & Moldovanu, Benny, 2012. "Optimal search, learning and implementation," Journal of Economic Theory, Elsevier, vol. 147(3), pages 881-909.
    3. Chun, Young H. & Sumichrast, Robert T., 2005. "Estimating the market shares of stores based on the shopper's search and purchase behavior," European Journal of Operational Research, Elsevier, vol. 166(2), pages 576-592, October.
    4. Yen‐Ming Lee & Sheldon M. Ross, 2013. "Bayesian selling problem with partial information," Naval Research Logistics (NRL), John Wiley & Sons, vol. 60(7), pages 557-570, October.

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