| Article ID: | iaor1991791 |
| Country: | Netherlands |
| Volume: | 17 |
| Issue: | 1/4 |
| Start Page Number: | 245 |
| End Page Number: | 251 |
| Publication Date: | Aug 1989 |
| Journal: | Engineering Costs and Production Economics |
| Authors: | Alpern Steve |
| Keywords: | search |
Recently D.J. Snower and the author have considered several models whereby a monopolistic firm chooses a sequence of price and production levels so as to optimally learn about the unknown demand curve it faces. The unifying idea is the use of sales levels as feedback in an optimal search for the ‘hidden’ demand curve. This paper surveys these models and those of D. Reyniers and introduces some extensions to the literature.