Benkert, Jean-Michel and Letina, Igor and Nöldeke, Georg. (2018) Optimal search from multiple distributions with infinite horizon. Economics Letters, 164. pp. 15-18.
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Abstract
With infinite horizon, optimal rules for sequential search from a known distribution feature a constant reservation value that is independent of whether recall of past options is possible. We extend this result to the case when there are multiple distributions to choose from: it is optimal to sample from the same distribution in every period and to continue searching until a constant reservation value is reached.
Faculties and Departments: | 06 Faculty of Business and Economics > Departement Wirtschaftswissenschaften > Professuren Wirtschaftswissenschaften > Mikroökonomische Theorie (Nöldeke) |
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UniBasel Contributors: | Nöldeke, Georg |
Item Type: | Article, refereed |
Article Subtype: | Research Article |
Publisher: | Elsevier |
ISSN: | 0165-1765 |
e-ISSN: | 1873-7374 |
Note: | Publication type according to Uni Basel Research Database: Journal article |
Language: | English |
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Identification Number: | |
edoc DOI: | |
Last Modified: | 23 Feb 2018 08:55 |
Deposited On: | 31 Jan 2018 14:57 |
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