SEARCH, Variable Sample Size, A Computational Solution

Pedro Cosme
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Pedro Cosme: Faculty of Economics, University of Oporto
Authors registered in the RePEc Author Service: Pedro Cosme da Costa Vieira

Computational Economics from University Library of Munich, Germany

Abstract: Morgan (1983) guaranteed that VSS dominated both FSS and SSR. But it is difficult to calculate the optimal sample size and the optimal reservation price both without recall and with full recall. As VSS without recall is a simplification of VSS with full recall, we will present on appendix a VB30 program that calculates only the full recall case. As known, on VSS, the search is sequential and in each period the sample size is variable. As normal, we will extract sellers prices from F(x) that is common knowledge, temporal horizon is T, goods are homogenous, no discount and consumer buys once just one unity of goods.

Keywords: Search; VSS (search for similar items in EconPapers)
JEL-codes: C44 C63 C8 D81 D83 (search for similar items in EconPapers)
Pages: 9 pages
Date: 1997-06-04
Note: Type of Document - Microsoft Word 6.0; prepared on PC; to print on HP; pages: 9 ; figures: 5 included
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