IJPAM: Volume 72, No. 1 (2011)
Department of Mathematics and Statistics
4700 Keele Street, Toronto, M3J 1P3, CANADA
Universidad Complutense de Madrid
Campus de Somosaguas, 28223, Pozuelo, SPAIN
Abstract. The current paper defines the optimal sequential information gathering structure of rational utility maximizer decision makers and illustrates numerically how their incentives to gather information among different goods decrease in their degree of risk aversion.
Received: June 5, 2011
AMS Subject Classification: 90B50, 91B06
Key Words and Phrases: search aversion, risk aversion, multi-attribute sequential search, optimal information gathering
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Source: International Journal of Pure and Applied Mathematics
ISSN printed version: 1311-8080
ISSN on-line version: 1314-3395