Learning while searching for the best alternative.
This paper delivers the solution to an optimal search problem where the searcher faces more than one search alternative and is learning about the attractiveness of the respective alternatives during the search process. The optimal sampling strategy is characterized by simple reservation prices that...
| Publicado en: | Journal of Economic Theory Vol. 101; no. 1; pp. 252 - 281 |
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| Formato: | Artículo |
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Academic Press Inc.
November 2001
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=513077706&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 513077706 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00220531 RTH jtl: Journal of Economic Theory issn: 00220531 maglogo: N pubinfo: dt: November 2001 vid: 101 iid: 1 pid: 735 pub: Academic Press Inc. artinfo: ui: 513077706 10.1006/jeth.2000.2723 ppf: 252 ppct: 29 formats: tig: atl: Learning while searching for the best alternative. aug: au: Adam, Klaus su: Employment Search theory Reservation wage Statistical sampling sug: subj: Employment Search theory Reservation wage Statistical sampling keyword: Search theory (Employment) ab: This paper delivers the solution to an optimal search problem where the searcher faces more than one search alternative and is learning about the attractiveness of the respective alternatives during the search process. The optimal sampling strategy is characterized by simple reservation prices that determine which of the search alternatives to sample and when to stop searching. The reservation price criterion is optimal for a large class of learning rules, including Bayesian, nonparametric, and ad-hoc learning rules. The considered search problem contains as special cases many earlier contributions to the search literature and thereby unifies and generalizes two directions of research; search with learning from a single search alternative and search without learning from several search alternatives. Journal of Economic Literature Classification Numbers: D81, D83.|Sc 2001 Elsevier Science. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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