Search from an unkown distribution an explicit solution

A-Tier
Journal: Journal of Economic Theory
Year: 1992
Volume: 57
Issue: 1
Pages: 141-157

Score contribution per author:

4.022 = (α=2.01 / 1 authors) × 2.0x A-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

This paper derives the optimal strategy of a searcher who searches with recall from an unknown distribution and who holds Dirichlet beliefs. Providing his priors are accurate, this searcher will immediately accept an offer which would have terminated his search had he known for sure the distribution, but if unlucky he may eventually accept a lower wage. In the latter case, as he accumulates more experience, he is increasingly reluctant to do so. This paper also explains why some workers become discouraged.

Technical Details

RePEc Handle
repec:eee:jetheo:v:57:y:1992:i:1:p:141-157
Journal Field
Theory
Author Count
1
Added to Database
2026-01-29