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Nash equilibrium 1 continuous Markov process 1 decision theory 1
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Zutler, I. 1
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Journal of the New Economic Association 1
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The Optimality of Choice by Markov Random Walk
Zutler, I. - In: Journal of the New Economic Association 20 (2013) 4, pp. 33-50
In the rational choice problem Zutler (2011) proposed a model of choice by continuous Markov random walk on a set of alternatives to find the best. In this paper we investigate the optimal properties of obtained solutions. It is shown that the result of this choice is the maximal element on a...
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