Learning While Searching for the Beat 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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|Date of creation:||1999|
|Date of revision:|
|Contact details of provider:|| Postal: Badia Fiesolana, Via dei Roccettini, 9, 50014 San Domenico di Fiesole (FI) Italy|
Web page: http://www.eui.eu/ECO/
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- Weitzman, Martin L, 1979.
"Optimal Search for the Best Alternative,"
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- S. C. Salop, 1973. "Systematic Job Search and Unemployment," Review of Economic Studies, Oxford University Press, vol. 40(2), pages 191-201.
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- Glazebrook, K. D., 1976. "A profitability index for alternative research projects," Omega, Elsevier, vol. 4(1), pages 79-83.
- Vishwanath, Tara, 1992. "Parallel Search for the Best Alternative," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 2(4), pages 495-507, October.
- Chou, Chien-fu & Talmain, Gabriel, 1993. "Nonparametric search," Journal of Economic Dynamics and Control, Elsevier, vol. 17(5-6), pages 771-784.
- Reinganum, Jennifer F., .
"Nash Equilibrium Search for the Best Alternative,"
413, California Institute of Technology, Division of the Humanities and Social Sciences.
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- Bikhchandani, Sushil & Sharma, Sunil, 1996.
"Optimal search with learning,"
Journal of Economic Dynamics and Control,
Elsevier, vol. 20(1-3), pages 333-359.
- Lippman, Steven A & McCall, John J, 1976. "The Economics of Job Search: A Survey," Economic Inquiry, Western Economic Association International, vol. 14(3), pages 347-68, September.
- Glazebrook, KD, 1978. "Some ranking formulae for alternative research projects," Omega, Elsevier, vol. 6(2), pages 193-194.
- Rothschild, Michael, 1974. "Searching for the Lowest Price When the Distribution of Prices Is Unknown," Journal of Political Economy, University of Chicago Press, vol. 82(4), pages 689-711, July/Aug..
- Lippman, Steven A & McCall, John J, 1976. "The Economics of Job Search: A Survey: Part I," Economic Inquiry, Western Economic Association International, vol. 14(2), pages 155-89, June.
- Kohn, Meir G. & Shavell, Steven, 1974. "The theory of search," Journal of Economic Theory, Elsevier, vol. 9(2), pages 93-123, October.
- Gabriel Talmain & Chien-Fu Chou, 1990. "Non-Parametric Search," Discussion Papers 92-01, University at Albany, SUNY, Department of Economics.
- 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.
- George J. Stigler, 1961. "The Economics of Information," Journal of Political Economy, University of Chicago Press, vol. 69, pages 213.
- Morgan, Peter B, 1985. "Distributions of the Duration and Value of Job Search with Learning," Econometrica, Econometric Society, vol. 53(5), pages 1199-1232, September.
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