Optimal Search with Learning
Posted: 19 Jun 2005
The sequential search problem, without the assumption that the searcher knows the underlying distribution, is investigated. Both search with recall and without recall are examined. Sufficient conditions for the existence of optimal stopping rules with the reservation property are provided. Comparative static results with respect to stochastic dominance (appropriately defined) are obtained.
Keywords: Search, Learning, Information
JEL Classification: D83
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