You are not currently logged in.
Access your personal account or get JSTOR access through your library or other institution:
If You Use a Screen ReaderThis content is available through Read Online (Free) program, which relies on page scans. Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
Optimal Search for the Best Alternative
Martin L. Weitzman
Vol. 47, No. 3 (May, 1979), pp. 641-654
Published by: The Econometric Society
Stable URL: http://www.jstor.org/stable/1910412
Page Count: 14
Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
Preview not available
This paper completely characterizes the solution to the problem of searching for the best outcome from alternative sources with different properties. The optimal strategy is an elementary reservation price rule, where the reservation prices are easy to calculate and have an intuitive economic interpretation.
Econometrica © 1979 The Econometric Society