Expected-Utility-Maximizing Price Search with Learning

1 January 1981

journal article
Published by Institute for Operations Research and the Management Sciences (INFORMS) in Management Science

Vol. 27 (1) , 75-80
https://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.

Keywords

FUNCTION
MODEL
UTILITY MAXIMIZING
MINIMIZING
EXPECTED UTILITY
MAXIMIZING PRICE SEARCH

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