Expected-utility-maximizing price search with learning
By: Ronald Morris Harstad, Andrew Postlewaite
Contributors: Postlewaite, A. joint author; University of Illinois at Urbana-Champaign. College of Commerce and Business Administration
Series: Faculty working papers -- no. 546; Faculty working papers -- v no. 546.
Publisher: College of Commerce and Business Administration, University of Illinois at Urbana-Champaign
Published: 1979
Place of publication: [Urbana, Ill.]
Language: eng
Subjects: Prices; Mathematical models; Consumers
Description: "We consider a model of search when the distribution of prices (wages) is unknown. The effect of changing the objective function from minimizing expected costs to maximizing expected utility is examined."
Notes: Includes bibliographical references (p. [16]).