Optimal search on spatial paths with recall, Part II: Computational procedures and examples

This is the second part of a two-part analysis of optimal spatial search be gun in Harwitz ct al, (1998), In the present article, two explicit computat ional procedures are developed for the optimal spatial search problem studi ed in Part I. The first uses reservation prices with continuous known distr ibutions of prices and is illustrated for three stores. The second does not use reservation prices but assumes known discrete distributions, It is a n umerical approximation to the first and also a tool for examining examples with larger numbers of stores. JEL, classification: D83, R10.