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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 the case when there are multiple distributions to choose from: it is optimal...
Persistent link: https://www.econbiz.de/10011784296
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 the case when there are multiple distributions to choose from: it is optimal...
Persistent link: https://www.econbiz.de/10012932736
Persistent link: https://www.econbiz.de/10011939873
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 the case when there are multiple distributions to choose from: it is optimal...
Persistent link: https://www.econbiz.de/10011729048