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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- Reinganum, Jennifer F., .
"Nash Equilibrium Search for the Best Alternative,"
413, California Institute of Technology, Division of the Humanities and Social Sciences.
- Gabriel Talmain & Chien-Fu Chou, 1990. "Non-Parametric Search," Discussion Papers 92-01, University at Albany, SUNY, Department of Economics.
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- Bikhchandani, Sushil & Sharma, Sunil, 1996.
"Optimal search with learning,"
Journal of Economic Dynamics and Control,
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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.
- 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.
- Glazebrook, K. D., 1976. "A profitability index for alternative research projects," Omega, Elsevier, vol. 4(1), pages 79-83.
- Salop, S C, 1973. "Systematic Job Search and Unemployment," Review of Economic Studies, Wiley Blackwell, vol. 40(2), pages 191-201, April.
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- George J. Stigler, 1961. "The Economics of Information," Journal of Political Economy, University of Chicago Press, vol. 69, pages 213.
- Vishwanath, Tara, 1992. "Parallel Search for the Best Alternative," Economic Theory, Springer, vol. 2(4), pages 495-507, October.
- Rosenfield, Donald B. & Shapiro, Roy D., 1981. "Optimal adaptive price search," Journal of Economic Theory, Elsevier, vol. 25(1), pages 1-20, August.
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