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SEARCH, Variable Sample Size, A Computational Solution

Author

Listed:
  • Pedro Cosme

    (Faculty of Economics, University of Oporto)

Abstract

Morgan (1983) guaranteed that VSS dominated both FSS and SSR. But it is difficult to calculate the optimal sample size and the optimal reservation price both without recall and with full recall. As VSS without recall is a simplification of VSS with full recall, we will present on appendix a VB30 program that calculates only the full recall case. As known, on VSS, the search is sequential and in each period the sample size is variable. As normal, we will extract sellers prices from F(x) that is common knowledge, temporal horizon is T, goods are homogenous, no discount and consumer buys once just one unity of goods.

Suggested Citation

  • Pedro Cosme, 1997. "SEARCH, Variable Sample Size, A Computational Solution," Computational Economics 9706001, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwpco:9706001
    Note: Type of Document - Microsoft Word 6.0; prepared on PC; to print on HP; pages: 9 ; figures: 5 included
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    References listed on IDEAS

    as
    1. Peter B. Morgan, 1983. "Search and Optimal Sample Sizes," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 50(4), pages 659-675.
    2. Lippman, Steven A & McCall, John J, 1976. "The Economics of Job Search: A Survey," Economic Inquiry, Western Economic Association International, vol. 14(3), pages 347-368, September.
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    More about this item

    Keywords

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    JEL classification:

    • C8 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs
    • C44 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Operations Research; Statistical Decision Theory
    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

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