G2TT
来源类型Discussion paper
规范类型论文
来源IDDP15534
DP15534 Retrospective Search: Exploration and Ambition on Uncharted Terrain
Can Urgun; Leeat Yariv
发表日期2020-12-08
出版年2020
语种英语
摘要We study a model of retrospective search in which an agent—a researcher, an online shopper, or a politician—tracks the value of a product. Discoveries beget discoveries and their observations are correlated over time, which we model using a Brownian motion. The agent decides both how ambitiously, or broadly, to search, and for how long. We fully characterize the optimal search policy and show that it entails constant scope of search and a simple stopping boundary. We also show the special features that emerge from contracting with a retrospective searcher.
主题Industrial Organization
关键词Retrospective search Drawdown stopping boundary Contracting
URLhttps://cepr.org/publications/dp15534
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/544536
推荐引用方式
GB/T 7714
Can Urgun,Leeat Yariv. DP15534 Retrospective Search: Exploration and Ambition on Uncharted Terrain. 2020.
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