Benkert, Jean-Michel; Letina, Igor; Nöldeke, Georg (2018). Optimal search from multiple distributions with infinite horizon. Economics letters, 164, pp. 15-18. Elsevier 10.1016/j.econlet.2017.12.032
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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.
Item Type: |
Journal Article (Original Article) |
|---|---|
Division/Institute: |
03 Faculty of Business, Economics and Social Sciences > Department of Economics |
UniBE Contributor: |
Letina, Igor |
Subjects: |
300 Social sciences, sociology & anthropology > 330 Economics |
ISSN: |
0165-1765 |
Publisher: |
Elsevier |
Language: |
English |
Submitter: |
Dino Collalti |
Date Deposited: |
24 Jun 2019 17:14 |
Last Modified: |
05 Dec 2022 15:27 |
Publisher DOI: |
10.1016/j.econlet.2017.12.032 |
BORIS DOI: |
10.7892/boris.127493 |
URI: |
https://boris.unibe.ch/id/eprint/127493 |
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