Spatial Search for the Lowest Price

Peter A. Rogerson

doi:10.1111/j.1538-4632.1990.tb00215.x

Spatial Search for the Lowest Price

Peter A. Rogerson

Geography

University at Buffalo

Research output: Contribution to journal › Article › peer-review

7 Scopus citations

Abstract

Search for low prices often requires that individuals make decisions not only about the optimal amount of search, but also about the optimal route to be taken through a set of known locations. In this paper, the fixed sample size strategy used in economic models of search is extended to account for the travel costs that are incurred as alternatives are examined. Analytical results for the optimal amount of search are given, and alternative routing algorithms for a modified version of the traveling‐salesman problem are evaluated. 1990 The Ohio State University

Original language	English
Pages (from-to)	336-347
Number of pages	12
Journal	Geographical Analysis
Volume	22
Issue number	4
DOIs	https://doi.org/10.1111/j.1538-4632.1990.tb00215.x
State	Published - Oct 1990

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10.1111/j.1538-4632.1990.tb00215.x

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title = "Spatial Search for the Lowest Price",

abstract = "Search for low prices often requires that individuals make decisions not only about the optimal amount of search, but also about the optimal route to be taken through a set of known locations. In this paper, the fixed sample size strategy used in economic models of search is extended to account for the travel costs that are incurred as alternatives are examined. Analytical results for the optimal amount of search are given, and alternative routing algorithms for a modified version of the traveling‐salesman problem are evaluated. 1990 The Ohio State University",

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AB - Search for low prices often requires that individuals make decisions not only about the optimal amount of search, but also about the optimal route to be taken through a set of known locations. In this paper, the fixed sample size strategy used in economic models of search is extended to account for the travel costs that are incurred as alternatives are examined. Analytical results for the optimal amount of search are given, and alternative routing algorithms for a modified version of the traveling‐salesman problem are evaluated. 1990 The Ohio State University

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DO - 10.1111/j.1538-4632.1990.tb00215.x

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EP - 347

JO - Geographical Analysis

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Spatial Search for the Lowest Price

Abstract

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