CaltechAUTHORS
Published June 1983 | Version public
Journal Article Metadata-only

Nash equilibrium search for the best alternative

Creators

  • 1. ROR icon California Institute of Technology

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.

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.

Additional details

Identifiers

Eprint ID
83264
Resolver ID
CaltechAUTHORS:20171116-145207219

Related works

Describes
http://resolver.caltech.edu/CaltechAUTHORS:20171003-162235960 (URL)

Funding

NSF

Dates

Created
2017-11-16
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Updated
2021-11-15
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