Published October 4, 2017
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Nash Equilibrium Search for the Best Alternative
- Creators
- Reinganum, Jennifer F.
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.
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.Attached Files
Submitted - sswp413.pdf
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Additional details
- Eprint ID
- 82019
- Resolver ID
- CaltechAUTHORS:20171003-162235960
- NSF
- Created
-
2017-10-04Created from EPrint's datestamp field
- Updated
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2019-10-03Created from EPrint's last_modified field
- Caltech groups
- Social Science Working Papers
- Series Name
- Social Science Working Paper
- Series Volume or Issue Number
- 413