Learning While Searching for the Beat Alternative

Klaus Adam ()

Economics Working Papers from European University Institute

Abstract: 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.

Keywords: LEARNING; UNCERTAINTY; RISK (search for similar items in EconPapers)
JEL-codes: D81 D83 (search for similar items in EconPapers)
Date: 1999
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Journal Article: Learning While Searching for the Best Alternative (2001)
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Persistent link: http://EconPapers.repec.org/RePEc:eui:euiwps:eco99/4

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