Chaimanowong, Wee; Ke, T. Tony; Villas-Boas, J. Miguel - 2023
We consider a decision maker (DM) who engages in costly search for breakthroughs between two uncertain alternatives, with the option to stop at any time and adopt one alternative or a safe status-quo option. Alternatives are either good or bad, and only good ones promise breakthroughs. We show...