The effect of increased variance on the duration of search: A note

Itzhak Venezia

doi:10.1016/0022-0531(80)90035-6

The effect of increased variance on the duration of search: A note

Itzhak Venezia^*

^*Corresponding author for this work

BA Business Department

Research output: Contribution to journal › Comment/debate

2 Scopus citations

Abstract

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.

Original language	English
Pages (from-to)	127-129
Number of pages	3
Journal	Journal of Economic Theory
Volume	23
Issue number	1
DOIs	https://doi.org/10.1016/0022-0531(80)90035-6
State	Published - 1980

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abstract = "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.",

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The effect of increased variance on the duration of search: A note

Abstract

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