Optimal search from multiple distributions with infinite horizon

C-Tier
Journal: Economics Letters
Year: 2018
Volume: 164
Issue: C
Pages: 15-18

Score contribution per author:

0.335 = (α=2.01 / 3 authors) × 0.5x C-tier

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

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.

Technical Details

RePEc Handle
repec:eee:ecolet:v:164:y:2018:i:c:p:15-18
Journal Field
General
Author Count
3
Added to Database
2026-01-24