Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
7349184 | Economics Letters | 2018 | 4 Pages |
Abstract
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.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Jean-Michel Benkert, Igor Letina, Georg Nöldeke,