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|
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Web page: http://www.eui.eu/ECO/
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- 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..
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"Optimal Search for the Best Alternative,"
214, Massachusetts Institute of Technology (MIT), Department of Economics.
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UCLA Economics Working Papers
580, UCLA Department of Economics.
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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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- Reinganum, Jennifer F., .
"Nash Equilibrium Search for the Best Alternative,"
413, California Institute of Technology, Division of the Humanities and Social Sciences.
- 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.
- Vishwanath, Tara, 1992. "Parallel Search for the Best Alternative," Economic Theory, Springer, vol. 2(4), pages 495-507, October.
- Salop, S C, 1973. "Systematic Job Search and Unemployment," Review of Economic Studies, Wiley Blackwell, vol. 40(2), pages 191-201, April.
- Michael Rothschild, 1974. "Searching for the Lowest Price When the Distribution of Prices Is Unknown: A Summary," NBER Chapters, in: Annals of Economic and Social Measurement, Volume 3, number 1, pages 293-294 National Bureau of Economic Research, Inc.
- Chou, Chien-fu & Talmain, Gabriel, 1993. "Nonparametric search," Journal of Economic Dynamics and Control, Elsevier, vol. 17(5-6), pages 771-784.
- Kohn, Meir G. & Shavell, Steven, 1974. "The theory of search," Journal of Economic Theory, Elsevier, vol. 9(2), pages 93-123, October.
- 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.
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