A Note on Convergence of Adaptive Satisficing to Optimal Stopping
Bibliographic Data
| ID | 10183135 |
|---|---|
| Authors | John Conlisk (University of California San Diego, corresponding author) |
| Year | 2003 |
| Volume | 111 |
| Issue | 6 |
| Pages | 1353-1360 |
| Publication date | 2003-11-14 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Journal of Political Economy (JOURNAL) |
| Journal identifiers | ISSN: 0022-3808 • E-ISSN: 1537-534X |
| Publisher | University of Chicago Press (PUBLISHER • US) |
| DOI | 10.1086/378527 |
| OpenAlex | W2087112659 |
| Language | EN |
| Citations received | 2 |
| References cited | 8 |
The model concerns a searcher making multiple searches from the same distribution of payoffs. The searcher does not know the distribution, does not attempt to infer it from cumulating information, and does not attempt to compute an optimal stopping rule. Instead the searcher follows thoroughly elementary adaptive rules. Nonetheless, the searcher converges to optimal stopping
Adaptive strategies · Convergence (economics · Distribution (mathematics · Economics · Mathematical economics · Mathematical optimization · Optimal stopping · Satisficing · Stopping rule · Artificial Intelligence · Auction Theory and Applications · Computer Science · Consumer Market Behavior and Pricing · Mathematics · Optimization and Search Problems
Asymptotic theory for econometricians
An Empirical Job-Search Model, with a Test of the Constant Reservation-Wage Hypothesis
Information in the Labor Market
How to Co-operate in Business without Really Trying
The Economics of Information
Searching for the Lowest Price When the Distribution of Prices Is Unknown
A Behavioral Model of Rational Choice
| Unique citing works | 2 |
|---|---|
| Citations per year | 0.11 |
| Citation span | 2008 - 2008 (1) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 2 |