TY - JOUR
T1 - The effect of increased variance on the duration of search
T2 - A note
AU - Venezia, Itzhak
PY - 1980
Y1 - 1980
N2 - A search procedure with a finite number of possible periods of search is considered here. It is assumed that the offers at different periods are independent of each other, that there are no search costs, and that there is no discounting of future receipts. It is shown that if the offers come from a normal population with the same mean then the expected duration of the search, given that an optimal search procedure is followed, is independent of the variance.
AB - A search procedure with a finite number of possible periods of search is considered here. It is assumed that the offers at different periods are independent of each other, that there are no search costs, and that there is no discounting of future receipts. It is shown that if the offers come from a normal population with the same mean then the expected duration of the search, given that an optimal search procedure is followed, is independent of the variance.
UR - http://www.scopus.com/inward/record.url?scp=84887446049&partnerID=8YFLogxK
U2 - 10.1016/0022-0531(80)90035-6
DO - 10.1016/0022-0531(80)90035-6
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AN - SCOPUS:84887446049
SN - 0022-0531
VL - 23
SP - 127
EP - 129
JO - Journal of Economic Theory
JF - Journal of Economic Theory
IS - 1
ER -