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Expected-Utility-Maximizing Price Search with Learning
Home
Publications
Expected-Utility-Maximizing Price Search with Learning
Expected-Utility-Maximizing Price Search with Learning
RH
Ronald M. Harstad
Ronald M. Harstad
AP
Andrew Postlewaite
Andrew Postlewaite
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1 January 1981
journal article
Published by
Institute for Operations Research and the Management Sciences (INFORMS)
in
Management Science
Vol. 27
(1)
,
75-80
https://doi.org/10.1287/mnsc.27.1.75
Abstract
We consider a model of search when the distribution of prices (wages) is unknown. The effect of changing the objective function from minimizing expected cost to maximizing expected utility is examined.
Keywords
FUNCTION
MODEL
UTILITY MAXIMIZING
MINIMIZING
EXPECTED UTILITY
MAXIMIZING PRICE SEARCH
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Open Access
Cited by 2 articles