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Nash Equilibrium Search for the Best Alternative

Reinganum, Jennifer F. (1982) Nash Equilibrium Search for the Best Alternative. Social Science Working Paper, 413. California Institute of Technology , Pasadena, CA. (Unpublished) http://resolver.caltech.edu/CaltechAUTHORS:20171003-162235960

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Abstract

In a recent paper, Weitzman (1979) described a policy of “optimal search for the best alternative.“ The present paper is concerned with the development and characterization of a policy of “Nash equilibrium search for the best alternative.“ Specifically, it is shown that, under certain monotonicity assumptions, and under the assumption that firms have incomplete information regarding the results of rivals' search behavior, a Nash equilibrium search policy exists and has the same form as Weitzman's optimal search policy.


Item Type:Report or Paper (Working Paper)
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Additional Information:I would like to thank Kim Border and Ed Green for their assistance. The financial support of the National Science Foundation is gratefully acknowledged. Published as Reinganum, Jennifer F. "Nash equilibrium search for the best alternative." Journal of Economic Theory 30.1 (1983): 139-152.
Group:Social Science Working Papers
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Record Number:CaltechAUTHORS:20171003-162235960
Persistent URL:http://resolver.caltech.edu/CaltechAUTHORS:20171003-162235960
Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:82019
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Deposited By: Jacquelyn Bussone
Deposited On:04 Oct 2017 18:59
Last Modified:16 Nov 2017 23:07

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