UCL Department of Economics


Retrospective Search: Exploration and Ambition on Uncharted Terrain

16 February 2021, 4:30 pm–5:45 pm

tablet showing google search engine on a desk

Leeat Yariv will present "Retrospective Search: Exploration and Ambition on Uncharted Terrain" (joint work with Can Urgun) as part of the Department's Theory Seminar Series.

Event Information

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Konrad Mierendorff

We study a model of retrospective search in which an agent—a researcher, an online shopper, or a politician—tracks the value of a product. Discoveries beget discoveries and their observations are correlated over time, which we model using a Brownian motion. The agent decides both how ambitiously, or broadly, to search, and for how long. We fully characterize the optimal search policy and show that it entails constant scope of search and a simple stopping boundary. We also show the special features that emerge from contracting with a retrospective searcher. 

You can read the full paper here. 

Seminar Link (please email d.kattwinkel@ucl.ac.uk for meeting ID and password)