The role of expectations in an adaptive search model

Jaime E. Vatter
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Jaime E. Vatter: Universidad de Chile

Estudios Económicos, 1995, vol. 10, issue 1, 103-112

Abstract: The purpose of this paper is to find sufficient conditions under which the results of the simple search model are preserved when learning is allowed. It is shown that the properties of the simple search model are preserved with very simple assumptions. Intuitively, we need a non explosive agent. That is, expectations must be smooth.

Date: 1995
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