Expected-Utility-Maximizing Price Search with Learning

Ronald M. Harstad
Ronald M. Harstad
University of British Columbia and University of Illinois at Urbana-Champaign
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Andrew Postlewaite
Andrew Postlewaite
Princeton University and University of Illinois at Urbana-Champaign
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Ronald M. Harstad

University of British Columbia and University of Illinois at Urbana-Champaign

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Andrew Postlewaite

Princeton University and University of Illinois at Urbana-Champaign

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Published Online:1 Jan 1981https://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.

Volume 27, Issue 1

January 1981

Pages 1-114

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Published Online:January 01, 1981

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Ronald M. Harstad, Andrew Postlewaite, (1981) Expected-Utility-Maximizing Price Search with Learning. Management Science 27(1):75-80.

https://doi.org/10.1287/mnsc.27.1.75

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Expected-Utility-Maximizing Price Search with Learning

Abstract

Volume 27, Issue 1

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