Expected-utility-maximizing Price Search with Learning
Auteur : Ronald Morris Harstad, A. Postlewaite
Date de publication : 1979
Éditeur : College of Commerce and Business Administration, University of Illinois at Urbana-Champaign
Nombre de pages : 14
Résumé du livre
We consider a model of search when the distribution of prices (wages) is unknown. The effect of changing the objective function from minimizing expected costs to maximizing expected utility is examined.