The DOI matches its Crossref record; 18 of the 19 references it cites were found in a registry or an index.
A two-armed bandit theory of market pricing
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In the citing paper
“Following seminal research on modeling pricing in markets as a bandit problem [700], many works have applied bandit and other RL algorithms to determine prices or other market values.”
From Tackling climate change with machine learning (2023) · cites this paper as [700]
Citations
Cites
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THOMPSON, W. R. (1933) · Biometrika · doi:10.1093/biomet/25.3-4.285 · Cited by 2,712
Optimal Statistical Decisions.
Lindley, D. V., & Groot, M. D. (1971) · Journal of the Royal Statistical Society Series C (Applied Statistics) · doi:10.2307/2346640 · Cited by 1,836
Diamond, P. A. (1971) · Journal of Economic Theory · doi:10.1016/0022-0531(71)90013-5 · Cited by 1,680
Micro-Economic Foundations of Employment and Inflation Theory.
Fisher, M. R., & Phelps, E. S. (1972) · The Economic Journal · doi:10.2307/2230017 · Cited by 855
Searching for the Lowest Price When the Distribution of Prices Is Unknown
Rothschild, M. (1974) · Journal of Political Economy · doi:10.1086/260229 · Cited by 604
Self-citationMicroeconomic Foundations of Employment and Inflation Theory.
Thornton, R. J., & Phelps, E. S. (1972) · Industrial and Labor Relations Review · doi:10.2307/2521329 · Cited by 592
Theory of the Firm Facing Uncertain Demand
Leland, H. E. (1972) · American Economic Review · Cited by 550
Satisficing, Selection, and The Innovating Remnant
Winter, S. G. (1971) · The Quarterly Journal of Economics · doi:10.2307/1880703 · Cited by 442
Models of Market Organization with Imperfect Information: A Survey
Rothschild, M. (1973) · Journal of Political Economy · doi:10.1086/260128 · Cited by 426
Self-citationKohn, M. G., & Shavell, S. (1974) · Journal of Economic Theory · doi:10.1016/0022-0531(74)90061-1 · Cited by 365
Price Uncertainty, Utility, and Industry Equilibrium in Pure Competition
Baron, D. P. (1970) · International Economic Review · doi:10.2307/2525325 · Cited by 270
A PROBLEM IN THE SEQUENTIAL DESIGN OF EXPERIMENTS
Bellman, R. (1954) · Cited by 193
Berry, D. A. (1972) · The Annals of Mathematical Statistics · doi:10.1214/aoms/1177692553 · Cited by 119
Searching for the Lowest Price
Telser, L. G. (1973) · American Economic Review · Cited by 104
On Probabilistic Models of Consumer Search for Information
Gastwirth, J. L. (1976) · The Quarterly Journal of Economics · doi:10.2307/1886085 · Cited by 83
Quasi-competitive price adjustment by individual firms: a preliminary paper
Fisher, F. M. (1970) · Journal of Economic Theory · doi:10.1016/0022-0531(70)90005-0 · Cited by 46
Cited by
Sorted by citations
(1988) · Cited by 1,379
Contingent Valuation: A Critical Assessment
Hausman, J. A. (1993) · Emerald Group Publishing Limited eBooks · doi:10.1108/s0573-8555(1993)220 · Cited by 1,131
Bargains and Ripoffs: A Model of Monopolistically Competitive Price Dispersion
Salop, S. C., & Stiglitz, J. E. (1977) · The Review of Economic Studies · doi:10.2307/2296903 · Cited by 1,008
Schlag, K. H. (1998) · Journal of Economic Theory · doi:10.1006/jeth.1997.2347 · Cited by 820
Adaptation as Information Restriction: The Hot Stove Effect
Denrell, J. C., & March, J. G. (2001) · Organization Science · doi:10.1287/orsc.12.5.523.10092 · Cited by 717
Metadata
- Authors
- Rothschild, M.
- Affiliations
- Princeton University (US)
- Corresponding author
- Rothschild, Michael
- Venue
- Journal of Economic Theory
- Publisher
- Elsevier BV
- Published
- 1974-10
- Volume
- 9
- Issue
- 2
- Pages
- 185-202
- ISSN
- 0022-0531 (ISSN-L)
- OpenAlex
- W2045097767
- Cited by
- 618
- References
- 19
- Citations by year
- 2026: 13 · 2025: 12 · 2024: 16 · 2023: 9 · 2022: 23 · 2021: 15 · 2020: 17 · 2019: 23 · 2018: 24 · 2017: 24 · 2016: 31 · 2015: 22 · 2014: 23 · 2013: 23 · 2012: 17
- FWCI
- 6.03
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- Journal of Economic Theory (publishedVersion)
- RePEc: Research Papers in Economics (submittedVersion)
- Topics
- Social Sciences › Decision Sciences › Management Science and Operations Research › Advanced Bandit Algorithms Research
- Social Sciences › Decision Sciences › General Decision Sciences › Decision-Making and Behavioral Economics
- Social Sciences › Decision Sciences › Management Science and Operations Research › Game Theory and Applications
- Keywords
- two-armed bandit, market pricing, effort provision, belief updating, innate talent, effortful control, switching behavior, perseverance, procrastination, confidence, educational psychology
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