complement this principle in that we additionally consider the variety induced complexity throughout the assembly process. The … weighted Shannon entropy is proposed as a measure for the evaluation of this complexity. Our results show that the delayed …

costs of search with its marginal benefit. The consumer can maximize the utility of his consumption-leisure choice with … regard to the equality of marginal values of search. Therefore, the satisficing decision procedure results in the optimizing …

equalizes marginal costs of search with its marginal benefits. The implicit optimal choice results in the explicit satisficing …

labor markets. Facing search frictions within markets and reallocation frictions between markets, workers endogenously …

The synthesis of the G.Sigler’s rule of the optimal search with the classical individual labor supply model enlarges … the understanding of the phenomenon of money flexibility. The constraints of the search model makes the Lagrangian …

When expected savings on purchases are greater than the wage rate, the optimal search results in the negative marginal … utility of leisure. The search transforms the classical backward bending effect and the leisure becomes complementary to the … search. Consumers compensate “bad” leisure by status goods of exceptional quality on markets with high price dispersion …

Firms simultaneously set prices in a homogeneous-product market where uninformed consumers search for price information …. Some uninformed consumers are local searchers who visit only one seller, possibly due to high search costs or bounded … rationality; whereas others search sequentially with an optimal reservation price. Equilibrium prices may follow a mixture …