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The role of expectations in an adaptive search model

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  • Vatter, Jaime E.

    (Universidad de Chile)

Abstract

The purpose of this paper is to find sufficient conditions under which the results of the simple search model are preserved when learning is allowed. It is shown that the properties of the simple search model are preserved with very simple assumptions. Intuitively, we need a non explosive agent. That is, expectations must be smooth.

Suggested Citation

  • Vatter, Jaime E., 1995. "The role of expectations in an adaptive search model," Estudios Económicos, El Colegio de México, Centro de Estudios Económicos, vol. 10(1), pages 103-112.
    • Handle: RePEc:emx:esteco:v:10:y:1995:i:1:p:103-112
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    File URL: https://estudioseconomicos.colmex.mx/index.php/economicos/article/view/269/272
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    References listed on IDEAS

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    1. Rothschild, Michael, 1974. "Searching for the Lowest Price When the Distribution of Prices Is Unknown," Journal of Political Economy, University of Chicago Press, vol. 82(4), pages 689-711, July/Aug..
    2. Lippman, Steven A & McCall, John J, 1976. "The Economics of Job Search: A Survey," Economic Inquiry, Western Economic Association International, vol. 14(3), pages 347-368, September.
    3. Bikhchandani, Sushil & Sharma, Sunil, 1996. "Optimal search with learning," Journal of Economic Dynamics and Control, Elsevier, vol. 20(1-3), pages 333-359.
    4. Michael Rothschild, 1974. "Searching for the Lowest Price When the Distribution of Prices Is Unknown: A Summary," NBER Chapters, in: Annals of Economic and Social Measurement, Volume 3, number 1, pages 293-294, National Bureau of Economic Research, Inc.
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