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Nash equilibrium search for the best alternative

Reinganum, Jennifer F. (1983) Nash equilibrium search for the best alternative. Journal of Economic Theory, 30 (1). pp. 139-152. ISSN 0022-0531. http://resolver.caltech.edu/CaltechAUTHORS:20171116-145207219

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Abstract

In a recent paper, Weitzman (Econometrica 47 (1979) 641–654) 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.


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https://doi.org/10.1016/0022-0531(83)90097-2DOIArticle
http://www.sciencedirect.com/science/article/pii/0022053183900972PublisherArticle
http://resolver.caltech.edu/CaltechAUTHORS:20171003-162235960Related ItemWorking Paper
Additional Information:© 1983 Academic Press, Inc. Received March 12, 1982. I would like to thank Kim Border and Ed Green for very helpful discussions, and the National Science Foundation for financial support. Errors and opinions expressed herein are the sole responsibility of the author. Formerly SSWP 413.
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Record Number:CaltechAUTHORS:20171116-145207219
Persistent URL:http://resolver.caltech.edu/CaltechAUTHORS:20171116-145207219
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ID Code:83264
Collection:CaltechAUTHORS
Deposited By: Jacquelyn Bussone
Deposited On:16 Nov 2017 23:08
Last Modified:16 Nov 2017 23:08

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