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DETERMINING THE OPTIMAL NUMBER OF BID SOLICITATIONS.
- Source :
- Decision Sciences; Jul72, Vol. 3 Issue 3, p32-40, 9p, 1 Graph
- Publication Year :
- 1972
-
Abstract
- This paper analyzes three simple search models, in which a buyer with full knowledge of the distribution of market prices searches for a low price. He continues his search until the cost of further search exceeds the expected savings resulting from the further search. The implications of these models are also discussed. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 00117315
- Volume :
- 3
- Issue :
- 3
- Database :
- Complementary Index
- Journal :
- Decision Sciences
- Publication Type :
- Academic Journal
- Accession number :
- 4987960
- Full Text :
- https://doi.org/10.1111/j.1540-5915.1972.tb00546.x